UBS Group Cuts Cisco Systems (NASDAQ:CSCO) Price Target to $54.00

Cisco Systems (NASDAQ:CSCO) had its price objective lowered by research analysts at UBS Group from $55.00 to $54.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the network equipment provider’s stock. UBS Group’s price target points to a potential upside of 14.99% from the company’s previous close.

Several other analysts have also recently commented on CSCO. Evercore ISI upped their target price on shares of Cisco Systems from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $55.00 to $62.00 in a research report on Wednesday, July 19th. Oppenheimer cut their target price on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Finally, Morgan Stanley boosted their price objective on Cisco Systems from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.78.

Cisco Systems Trading Down 11.9 %

Shares of NASDAQ CSCO traded down $6.32 during midday trading on Thursday, hitting $46.96. The stock had a trading volume of 49,800,620 shares, compared to its average volume of 18,218,768. The firm has a market cap of $190.42 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.98. Cisco Systems has a fifty-two week low of $45.16 and a fifty-two week high of $58.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The company’s 50-day simple moving average is $53.74 and its 200 day simple moving average is $52.26.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The company had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Research analysts anticipate that Cisco Systems will post 3.57 EPS for the current year.

Insider Activity

In other news, CEO Charles Robbins sold 17,687 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.16, for a total value of $975,614.92. Following the transaction, the chief executive officer now owns 716,191 shares of the company’s stock, valued at $39,505,095.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,158 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.15, for a total value of $119,013.70. Following the completion of the sale, the executive vice president now directly owns 173,618 shares of the company’s stock, valued at $9,575,032.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 17,687 shares of Cisco Systems stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $55.16, for a total value of $975,614.92. Following the completion of the transaction, the chief executive officer now owns 716,191 shares in the company, valued at approximately $39,505,095.56. The disclosure for this sale can be found here. Insiders have sold a total of 41,859 shares of company stock worth $2,309,352 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Cisco Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lakeside Advisors INC. grew its holdings in Cisco Systems by 37.5% in the 2nd quarter. Lakeside Advisors INC. now owns 9,527 shares of the network equipment provider’s stock worth $493,000 after acquiring an additional 2,596 shares during the last quarter. Hamilton Capital LLC boosted its position in shares of Cisco Systems by 6.8% in the 2nd quarter. Hamilton Capital LLC now owns 14,427 shares of the network equipment provider’s stock worth $746,000 after purchasing an additional 924 shares in the last quarter. Forum Financial Management LP raised its position in shares of Cisco Systems by 3.1% in the 2nd quarter. Forum Financial Management LP now owns 41,845 shares of the network equipment provider’s stock worth $2,165,000 after purchasing an additional 1,255 shares during the last quarter. Lido Advisors LLC grew its position in Cisco Systems by 0.7% during the 2nd quarter. Lido Advisors LLC now owns 349,827 shares of the network equipment provider’s stock valued at $18,100,000 after purchasing an additional 2,414 shares during the last quarter. Finally, Trilogy Capital Inc. lifted its holdings in shares of Cisco Systems by 16.1% during the second quarter. Trilogy Capital Inc. now owns 5,401 shares of the network equipment provider’s stock valued at $284,000 after purchasing an additional 747 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

About Cisco Systems

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.