Tigress Financial Reiterates “Buy” Rating for Cisco Systems (NASDAQ:CSCO)

Cisco Systems (NASDAQ:CSCO – Get Rating)‘s stock had its “buy” rating reissued by analysts at Tigress Financial in a research note issued on Friday, Benzinga reports. They currently have a $73.00 target price on the network equipment provider’s stock. Tigress Financial’s price objective would indicate a potential upside of 45.45% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Rosenblatt Securities upped their price target on shares of Cisco Systems from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, February 17th. Piper Sandler upped their price target on shares of Cisco Systems from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Wells Fargo & Company upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, February 16th. Finally, TheStreet upgraded shares of Cisco Systems from a “c+” rating to a “b-” rating in a research note on Monday, November 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Cisco Systems Trading Up 0.1 %

NASDAQ CSCO opened at $50.19 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.41 and a debt-to-equity ratio of 0.18. The firm has a market cap of $205.57 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The company has a 50 day moving average price of $48.59 and a 200 day moving average price of $46.33. Cisco Systems has a 52 week low of $38.60 and a 52 week high of $56.94.

Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.76 by $0.12. The firm had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.41 billion. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. Cisco Systems’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that Cisco Systems will post 3.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 20,117 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $49.08, for a total transaction of $987,342.36. Following the sale, the chief executive officer now directly owns 798,970 shares of the company’s stock, valued at $39,213,447.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, CEO Charles Robbins sold 20,117 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $49.08, for a total transaction of $987,342.36. Following the transaction, the chief executive officer now directly owns 798,970 shares of the company’s stock, valued at $39,213,447.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,142 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total transaction of $153,266.76. Following the transaction, the executive vice president now directly owns 180,697 shares in the company, valued at $8,814,399.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,568 shares of company stock valued at $2,376,624. Corporate insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. lifted its holdings in Cisco Systems by 4.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 167,274 shares of the network equipment provider’s stock valued at $7,969,000 after purchasing an additional 6,511 shares in the last quarter. Mather Group LLC. raised its position in shares of Cisco Systems by 8.2% in the fourth quarter. Mather Group LLC. now owns 30,803 shares of the network equipment provider’s stock valued at $1,467,000 after buying an additional 2,327 shares during the last quarter. Capital Asset Advisory Services LLC raised its position in shares of Cisco Systems by 10.8% in the fourth quarter. Capital Asset Advisory Services LLC now owns 46,508 shares of the network equipment provider’s stock valued at $2,251,000 after buying an additional 4,539 shares during the last quarter. Great Lakes Retirement Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $841,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Cisco Systems by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,653,774 shares of the network equipment provider’s stock valued at $78,784,000 after buying an additional 12,993 shares during the last quarter. 71.10% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Company Profile

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.