Zacks Investment Research downgraded shares of Cisco Systems Inc. (NASDAQ:CSCO) from a hold rating to a sell rating in a research report report published on Monday.

According to Zacks, “Cisco Systems is the leading provider of IP-based networking and other products. The modest first-quarter results and the disappointing guidance will weigh on the stock price in the near term. Intensifying competition from several smaller players, slowing order growth from service providers and challenges in the emerging markets are the primary headwinds. Nonetheless, we believe Cisco’s expanding footprint in the rapidly growing security and data center market are promising. Moreover, partnerships with the likes of Pure Storage, salesforce.com and IBM will help Cisco to gain signficant traction in the data center, cloud and Internet of Things (IoT) market in the long haul. Further, continued share buyback and dividend hikes are positive.”

A number of other brokerages also recently issued reports on CSCO. Goldman Sachs Group Inc. restated a neutral rating and issued a $32.00 price target on shares of Cisco Systems in a research report on Thursday, August 18th. Argus lifted their price objective on shares of Cisco Systems from $34.00 to $37.00 and gave the company a buy rating in a research note on Friday, August 19th. Raymond James Financial Inc. lifted their price objective on shares of Cisco Systems from $32.00 to $34.00 and gave the company an outperform rating in a research note on Friday, September 23rd. RBC Capital Markets reiterated an outperform rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Wednesday, August 17th. Finally, Vetr lowered shares of Cisco Systems from a buy rating to a hold rating and set a $32.71 price objective for the company. in a research note on Monday, September 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $32.73.

Cisco Systems (NASDAQ:CSCO) opened at 29.92 on Monday. The company’s 50-day moving average is $30.55 and its 200 day moving average is $30.16. The firm has a market cap of $150.41 billion, a PE ratio of 14.32 and a beta of 1.42. Cisco Systems has a one year low of $22.46 and a one year high of $31.95.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.34 billion. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. Equities analysts anticipate that Cisco Systems will post $2.37 earnings per share for the current year.

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In related news, SVP Mark D. Chandler sold 62,910 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total transaction of $1,975,374.00. Following the completion of the transaction, the senior vice president now owns 286,628 shares in the company, valued at approximately $9,000,119.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 25,706 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $31.02, for a total value of $797,400.12. Following the transaction, the senior vice president now owns 133,113 shares of the company’s stock, valued at approximately $4,129,165.26. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC boosted its position in Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock worth $102,000 after buying an additional 210 shares during the last quarter. Orrstown Financial Services Inc. boosted its stake in shares of Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock valued at $103,000 after buying an additional 1,530 shares in the last quarter. Reilly Financial Advisors LLC boosted its stake in shares of Cisco Systems by 9.5% in the third quarter. Reilly Financial Advisors LLC now owns 3,289 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 286 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Cisco Systems by 112.3% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,418 shares of the network equipment provider’s stock valued at $108,000 after buying an additional 1,808 shares in the last quarter. Finally, Edmond DE Rothschild Monaco purchased a new stake in shares of Cisco Systems during the third quarter valued at $111,000. Institutional investors own 74.29% of the company’s stock.

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.

5 Day Chart for NASDAQ:CSCO

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