Cisco Systems Inc. (CSCO) Short Interest Update
Cisco Systems Inc. (NASDAQ:CSCO) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 51,214,345 shares, an increase of 7.8% from the August 31st total of 47,518,830 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 20,784,504 shares, the days-to-cover ratio is currently 2.5 days.
Cisco Systems (NASDAQ:CSCO) opened at 31.72 on Friday. The firm has a market capitalization of $159.06 billion, a P/E ratio of 15.03 and a beta of 1.37. The company’s 50-day moving average is $31.24 and its 200-day moving average is $29.30. Cisco Systems has a one year low of $22.46 and a one year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Equities analysts forecast that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.28%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.06%.
In other news, CEO Charles Robbins sold 148,800 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $31.01, for a total value of $4,614,288.00. Following the completion of the transaction, the chief executive officer now owns 629,813 shares in the company, valued at approximately $19,530,501.13. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven M. West sold 15,000 shares of the stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total transaction of $453,000.00. Following the completion of the transaction, the director now owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Carnick & Kubik Group LLC bought a new position in shares of Cisco Systems during the second quarter worth approximately $680,000. Williams Jones & Associates LLC boosted its position in shares of Cisco Systems by 26.9% in the second quarter. Williams Jones & Associates LLC now owns 1,120,052 shares of the network equipment provider’s stock worth $32,134,000 after buying an additional 237,697 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Cisco Systems during the second quarter worth approximately $5,826,000. Kentucky Retirement Systems bought a new position in shares of Cisco Systems during the second quarter worth approximately $12,271,000. Finally, Mason Street Advisors LLC bought a new position in shares of Cisco Systems during the second quarter worth approximately $19,437,000. 75.00% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on CSCO shares. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $30.00 price objective on shares of Cisco Systems in a research note on Monday, June 6th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $30.77 price objective for the company in a research note on Tuesday, June 7th. Credit Suisse Group AG restated a “sell” rating on shares of Cisco Systems in a research note on Wednesday, June 8th. JPMorgan Chase & Co. restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, June 8th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Cisco Systems in a research note on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.43.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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