In a recent report released by Benzinga, Needham & Company LLC reaffirmed their hold rating on Cisco Systems (NASDAQ:CSCO). Several other analysts have also issued reports on the stock, with Bank of America upgrading their rating to Buy and raising their price target. StockNews.com also upgraded Cisco Systems to a buy rating. Overall, analysts have given Cisco Systems a consensus rating of Hold with a consensus price target of $56.47.
Cisco Systems’ stock performance shows that it opened at $48.17 on Thursday. The company has a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems reported earnings results on May 15th, exceeding analysts’ expectations with an EPS of $0.88 for the quarter. The company also announced a quarterly dividend of $0.40 per share.
Internal activity within Cisco Systems includes recent stock sales by CFO Richard Scott Herren and SVP Maria Victoria Wong. Hedge funds have also made changes to their positions in the company, with institutional investors now owning 73.33% of Cisco Systems’ shares.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol-based networks and related products across various regions. Their product offerings include switching, routing, wireless, and computing solutions.
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