Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco acquiring Waltham cybersecurity company for $293M

[at American City Business Journals] – Silicon Valley networking tech giant Cisco Systems announced Tuesday its intent to acquire Waltham cloud-based security and services firm CloudLock for $293 million in cash and equity. Cisco (CSCO) said in a release that the acquisition will further enhance its security portfolio and build on Cisco’s Security Everywhere strategy, designed to provide protection from the cloud to the network to the endpoint. “As companies are migrating to the cloud, they need a technology partner that can accelerate that transition and deliver critical security capabilities for all their users, apps and data in a seamless way,” said Rob Salvagno, vice president of Cisco Corporate Development, in a statement. Read more on this. Cisco Systems, Inc. (CSCO) , with a current value of $139.12B, opened this morning at $27.55. During the trading session, CSCO traded between $27.50 to $27.78 with its 52-week range being $22.46 to $29.49. Cisco (CSCO) shares are currently priced at 11.72x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.21x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.04 per share annually in dividends, yielding 3.75%. Consensus earnings for the current quarter by the 33 sell-side analysts covering the stock is an estimate of $0.60 per share, which would be $0.01 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $2.33, which would be a $0.12 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.58 Billion. If reported, that would be a 2.02% decrease over the year-ago quarter. More recently, Goldman downgraded CSCO from Buy to Neutral (Jun 15, 2016). Previously, JP Morgan upgraded CSCO from Underweight to Neutral. When considering if perhaps the stock is under or overvalued, the average price target is $30.82, which is 11.87% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Will Cisco Systems (CSCO) Stock Be Helped by Positive UBS View? Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Price Target Lowered at Pacific Crest Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Rises After Winning U.S. Patent Dispute