TheStreet Downgrades Cisco Systems (NASDAQ:CSCO) to C+

Cisco Systems (NASDAQ:CSCOGet Rating) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

Several other equities research analysts have also commented on CSCO. Raymond James cut their price objective on Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. JPMorgan Chase & Co. cut their price objective on Cisco Systems from $67.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 19th. Deutsche Bank Aktiengesellschaft cut their price objective on Cisco Systems from $59.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Barclays cut their price objective on Cisco Systems from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, May 19th. Finally, The Goldman Sachs Group cut their price objective on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $55.05.

NASDAQ CSCO opened at $43.32 on Wednesday. The stock has a market capitalization of $179.39 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 2.25 and a beta of 0.99. Cisco Systems has a twelve month low of $41.02 and a twelve month high of $64.29. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $47.98 and a 200 day moving average of $54.10.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period in the previous year, the business posted $0.75 earnings per share. Equities analysts predict that Cisco Systems will post 2.99 EPS for the current fiscal year.

In related news, CEO Charles Robbins sold 12,717 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the transaction, the chief executive officer now owns 651,577 shares of the company’s stock, valued at $28,532,556.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prat Bhatt sold 607 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the transaction, the senior vice president now directly owns 79,855 shares in the company, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,326 shares of company stock worth $1,103,159. Insiders own 0.02% of the company’s stock.

A number of large investors have recently bought and sold shares of CSCO. Hellman Jordan Management Co. Inc. MA grew its holdings in shares of Cisco Systems by 36.6% during the first quarter. Hellman Jordan Management Co. Inc. MA now owns 46,410 shares of the network equipment provider’s stock worth $2,588,000 after purchasing an additional 12,440 shares during the last quarter. Offit Capital Advisors LLC grew its holdings in shares of Cisco Systems by 11.8% during the first quarter. Offit Capital Advisors LLC now owns 17,279 shares of the network equipment provider’s stock worth $963,000 after purchasing an additional 1,817 shares during the last quarter. Paragon Private Wealth Management LLC grew its holdings in shares of Cisco Systems by 40.7% during the first quarter. Paragon Private Wealth Management LLC now owns 15,471 shares of the network equipment provider’s stock worth $701,000 after purchasing an additional 4,476 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Cisco Systems by 1.0% during the first quarter. J.W. Cole Advisors Inc. now owns 52,275 shares of the network equipment provider’s stock worth $2,915,000 after purchasing an additional 501 shares during the last quarter. Finally, Vise Technologies Inc. grew its holdings in shares of Cisco Systems by 380.5% during the first quarter. Vise Technologies Inc. now owns 20,386 shares of the network equipment provider’s stock worth $1,137,000 after purchasing an additional 16,143 shares during the last quarter. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

About Cisco Systems (Get Rating)

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.

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