Tigress Financial Boosts Cisco Systems (NASDAQ:CSCO) Price Target to $78.00

Cisco Systems (NASDAQ:CSCO) had its price target lifted by Tigress Financial from $76.00 to $78.00 in a research note published on Monday, Marketbeat Ratings reports. Tigress Financial currently has a buy rating on the network equipment provider’s stock.

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Price Performance

Cisco Systems stock opened at $56.38 on Monday. The business has a 50-day simple moving average of $50.73 and a 200 day simple moving average of $48.50. Cisco Systems has a 52 week low of $44.50 and a 52 week high of $56.41. The stock has a market cap of $227.14 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 4.22 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the business earned $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, research analysts forecast that Cisco Systems will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of institutional investors and hedge funds have recently made changes to their positions in CSCO. Chicago Partners Investment Group LLC boosted its holdings in Cisco Systems by 1.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 20,845 shares of the network equipment provider’s stock worth $1,070,000 after acquiring an additional 331 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth about $68,000. ICA Group Wealth Management LLC boosted its stake in Cisco Systems by 7.5% in the 4th quarter. ICA Group Wealth Management LLC now owns 4,129 shares of the network equipment provider’s stock worth $209,000 after purchasing an additional 287 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in Cisco Systems by 66.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,754 shares of the network equipment provider’s stock valued at $190,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its stake in Cisco Systems by 9.4% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 108,269 shares of the network equipment provider’s stock valued at $5,404,000 after purchasing an additional 9,288 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

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.