KeyCorp Initiates Coverage on Cisco Systems (NASDAQ:CSCO)

Stock analysts at KeyCorp assumed coverage on shares of Cisco Systems (NASDAQ:CSCO - Get Free Report) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set an "overweight" rating and a $77.00 price target on the network equipment provider's stock. KeyCorp's target price indicates a potential upside of 12.92% from the company's previous close.

Several other equities analysts have also commented on the stock. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.53.

Cisco Systems Trading Up 0.4%

Cisco Systems stock opened at $68.19 on Thursday. Cisco Systems has a 1 year low of $44.50 and a 1 year high of $68.64. The firm's 50-day moving average is $62.04 and its 200-day moving average is $60.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market cap of $270.03 billion, a P/E ratio of 27.83, a PEG ratio of 4.06 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. On average, equities analysts expect that Cisco Systems will post 3.04 earnings per share for the current year.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cisco Systems

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Cisco Systems by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider's stock worth $24,002,095,000 after purchasing an additional 1,865,648 shares during the last quarter. FMR LLC increased its holdings in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. Northern Trust Corp lifted its stake in Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. Finally, Invesco Ltd. grew its position in Cisco Systems by 10.4% in the first quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider's stock worth $2,907,599,000 after acquiring an additional 4,437,450 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

About Cisco Systems

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.

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