Cisco Systems (NASDAQ:CSCO) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Cisco Systems (NASDAQ:CSCOFree Report) in a research note published on Tuesday morning, Benzinga reports.

A number of other equities research analysts have also weighed in on CSCO. Piper Sandler lifted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a neutral rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a hold rating in a research note on Tuesday. Melius lowered shares of Cisco Systems from a buy rating to a hold rating in a research note on Monday, January 8th. Melius Research reaffirmed a hold rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Finally, Barclays lifted their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $56.03.

Get Our Latest Analysis on Cisco Systems

Cisco Systems Price Performance

CSCO stock opened at $48.49 on Tuesday. The firm’s 50-day moving average price is $49.25 and its two-hundred day moving average price is $50.44. Cisco Systems has a 12-month low of $45.56 and a 12-month high of $58.19. The stock has a market capitalization of $196.35 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.82 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems will post 3.15 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.30%. Cisco Systems’s payout ratio is 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. purchased a new position in shares of Cisco Systems during the third quarter valued at approximately $27,000. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $32,000. Delos Wealth Advisors LLC increased its holdings in Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $33,000. Finally, Fortis Capital Advisors LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $34,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

About Cisco Systems

(Get Free Report)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Read More

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.