Cisco Systems (NASDAQ:CSCO) Hits New 1-Year Low at $40.75

Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) reached a new 52-week low on Friday . The company traded as low as $40.75 and last traded at $40.82, with a volume of 157874 shares changing hands. The stock had previously closed at $41.15.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cowen lifted their target price on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. The Goldman Sachs Group increased their target price on shares of Cisco Systems from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Citigroup boosted their price target on shares of Cisco Systems from $40.00 to $44.00 and gave the stock a “sell” rating in a research report on Thursday, August 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $51.00 to $54.00 in a research report on Friday, August 19th. Finally, Credit Suisse Group increased their price target on Cisco Systems from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.10.

Cisco Systems Stock Performance

The firm has a market cap of $168.26 billion, a P/E ratio of 14.59, a PEG ratio of 2.06 and a beta of 0.96. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average is $45.11 and its two-hundred day moving average is $47.52.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The company had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same quarter last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.1 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.52 annualized dividend and a dividend yield of 3.71%. Cisco Systems’s dividend payout ratio is currently 53.90%.

Insider Buying and Selling

In other Cisco Systems news, EVP Jeffery S. Sharritts sold 637 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total value of $28,467.53. Following the completion of the sale, the executive vice president now owns 166,370 shares in the company, valued at approximately $7,435,075.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Jeffery S. Sharritts sold 637 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total transaction of $28,467.53. Following the sale, the executive vice president now directly owns 166,370 shares in the company, valued at approximately $7,435,075.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 12,716 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $47.14, for a total transaction of $599,432.24. Following the transaction, the chief executive officer now owns 631,374 shares of the company’s stock, valued at approximately $29,762,970.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,317 shares of company stock worth $2,612,042. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently bought and sold shares of CSCO. Norges Bank purchased a new stake in Cisco Systems in the 4th quarter worth about $2,492,430,000. Vanguard Group Inc. raised its position in shares of Cisco Systems by 8.9% in the first quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock valued at $20,568,578,000 after purchasing an additional 30,181,146 shares during the period. BlackRock Inc. lifted its stake in shares of Cisco Systems by 3.5% during the 4th quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock valued at $22,205,126,000 after buying an additional 11,804,677 shares in the last quarter. State Street Corp boosted its holdings in Cisco Systems by 3.2% in the 4th quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after buying an additional 5,730,165 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Cisco Systems by 4,090.1% in the 2nd quarter. Renaissance Technologies LLC now owns 5,359,105 shares of the network equipment provider’s stock valued at $228,512,000 after buying an additional 5,231,205 shares in the last quarter. 71.71% of the stock is owned by institutional investors.

Cisco Systems Company Profile

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading

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