Cisco Systems, Inc. (NASDAQ:CSCO) has been given a $33.00 price objective by stock analysts at KeyCorp in a report released on Wednesday. The brokerage presently has a “buy” rating on the network equipment provider’s stock. KeyCorp’s price target points to a potential downside of 0.78% from the stock’s previous close.

CSCO has been the subject of a number of other reports. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Drexel Hamilton reaffirmed a “buy” rating and set a $39.00 target price on shares of Cisco Systems in a research report on Sunday, June 25th. Deutsche Bank AG reaffirmed a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, June 13th. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 target price for the company in a research report on Thursday, July 6th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $35.30.

Cisco Systems (NASDAQ:CSCO) opened at 33.26 on Wednesday. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $34.60. The stock’s 50 day moving average price is $32.70 and its 200 day moving average price is $32.35. The stock has a market capitalization of $164.70 billion, a PE ratio of 17.51 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the company earned $0.63 EPS. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems will post $2.43 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/10/13/cisco-systems-inc-csco-given-a-33-00-price-target-by-keycorp-analysts.html.

In related news, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock valued at $15,347,574 over the last 90 days. Company insiders own 0.11% of the company’s stock.

A number of institutional investors have recently modified their holdings of CSCO. CGOV Asset Management grew its position in Cisco Systems by 7.3% in the first quarter. CGOV Asset Management now owns 544,815 shares of the network equipment provider’s stock worth $24,532,000 after acquiring an additional 37,266 shares during the period. Granite Investment Advisors LLC grew its position in Cisco Systems by 2.6% in the first quarter. Granite Investment Advisors LLC now owns 25,726 shares of the network equipment provider’s stock worth $870,000 after acquiring an additional 641 shares during the period. Ledyard National Bank grew its position in Cisco Systems by 1.5% in the first quarter. Ledyard National Bank now owns 365,375 shares of the network equipment provider’s stock worth $12,350,000 after acquiring an additional 5,255 shares during the period. Boys Arnold & Co. Inc. grew its position in Cisco Systems by 5.3% in the first quarter. Boys Arnold & Co. Inc. now owns 72,415 shares of the network equipment provider’s stock worth $2,448,000 after acquiring an additional 3,670 shares during the period. Finally, Johanson Financial Advisors Inc. purchased a new position in Cisco Systems in the first quarter worth approximately $915,000. Institutional investors own 75.38% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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