28 May, 2017
(NASDAQ:CSCO) traded down 7.21% during mid-day trading on Thursday, reaching $31.38.
Timothy Green owns shares of Cisco Systems. The networking company's 3rd quarter of fiscal 2017 ended April 29.
The new cuts came as Cisco announced fiscal Q3 revenues of $11.9 billion, down 1%. Nomura Instinet analyst Jeffrey Kvaal warned that the decline "may be more than temporary". The price Cisco paid for some of these companies, particularly AppDynamics, is questionable, but it needs to make sure it doesn't get left behind. Technology providers such as Intel Corp. have reported a continuing slowdown in demand from corporate buyers, traditionally one of their biggest customer groups, as they outsource more of their computing to cloud providers such as Amazon Web Services.
Revenue fell 0.5 per cent to US$11.94 billion.
Initial reports had suggested that the company would, in total, lay off about 14,000 employees, but Cisco later made an official announcement clarifying the numbers. Vetr raised Cisco Systems from a "sell" rating to a "hold" rating and set a $34.51 price objective on the stock in a research report on Monday, March 20th. Indeed, in the last five days, an average price target of $36.5 has been given to the stock, which represents an upside of 9.12% from the last closing price. Pacific Crest set a $33.00 price target on Cisco Systems and gave the stock a "buy" rating in a research report on Wednesday, January 25th. To measure price-variation, we found CSCO's volatility during a week at 1.22% and during a month it has been found around 0.99%.
Shares of Cisco Systems plunged in after-hours trades, falling by as much as 4.97% to $32.15 after tonight's release. Raymond James Financial, Inc. restated an "outperform" rating on shares of Cisco Systems in a research report on Friday, February 17th.
Beacon Financial Group reduced its position in Cisco Systems, Inc. Sales there were down 49 percent year-over-year, said Cisco chief executive Chuck Robbins President Trump's unpredictability and interactions with foreign leaders have begun to worry many investors. For the next 5 years, Cisco Systems, Inc.is expecting Growth of 10.04% per annum, whereas in the past 5 years the growth was 5.27% per annum. (NASDAQ:CSCO) established that the company was able to keep return on investment at 10.17 in the trailing twelve month while Reuters data showed that industry's average stands at 1.11 and sector's optimum level is 10.85. Institutional investors own 75.24% of the company's stock. The shares were bought at an average price of $33.92 per share, with a total value of $102,675.84.
Cisco has been shifting to software and services from its core business of selling network switches and routers. The company has a consensus rating of "Buy" and a consensus price target of $35.05.
The company is now valued at $167.51 billion and closed the last trading session at $33.45.
Total gross margins by geographic segment were: 64.60 percent for the Americas, 65.50 percent for EMEA and 61.80 percent for APJC.
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