Cisco Systems (NASDAQ:CSCO) PT Set at $70.00 by JPMorgan Chase & Co.

Cisco Systems (NASDAQ:CSCO) received a $70.00 price objective from equities researchers at JPMorgan Chase & Co. in a report issued on Thursday, Analyst Ratings Network reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 23.13% from the company’s current price.

A number of other brokerages also recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $55.00 to $59.00 and gave the stock a “hold” rating in a report on Tuesday, August 24th. DZ Bank reaffirmed a “hold” rating and issued a $51.00 target price on shares of Cisco Systems in a research report on Thursday, May 27th. Oppenheimer boosted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 19th. Morgan Stanley cut shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $57.00 to $59.00 in a research report on Thursday, September 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.52.

Shares of CSCO opened at $56.85 on Thursday. The company’s fifty day moving average price is $56.57 and its 200-day moving average price is $53.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.49 and a quick ratio of 1.43. The firm has a market capitalization of $239.78 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 3.01 and a beta of 0.91. Cisco Systems has a 1-year low of $35.28 and a 1-year high of $60.27.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $13.13 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. Cisco Systems’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $0.80 earnings per share. As a group, research analysts anticipate that Cisco Systems will post 3.08 EPS for the current fiscal year.

In other news, EVP Geraldine Elliott sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $59.40, for a total value of $2,970,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 6,543 shares of Cisco Systems stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $59.69, for a total transaction of $390,551.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,529 shares of company stock worth $3,827,391. Corporate insiders own 0.02% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. McCarthy Asset Management Inc. lifted its holdings in Cisco Systems by 87.8% in the 2nd quarter. McCarthy Asset Management Inc. now owns 494 shares of the network equipment provider’s stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. Lion Street Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter worth approximately $32,000. Lake Point Wealth Management purchased a new position in shares of Cisco Systems in the 2nd quarter worth $36,000. Stuart Chaussee & Associates Inc. raised its holdings in Cisco Systems by 43.2% in the first quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after buying an additional 216 shares during the period. Finally, Arcadia Investment Management Corp MI lifted its holdings in shares of Cisco Systems by 48.4% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 705 shares of the network equipment provider’s stock valued at $37,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 71.92% of the company’s stock.

About Cisco Systems

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 product comprises of 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.

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