Needham & Company Maintains a 'Hold' on Cisco (CSCO); Gross Margin Pressures Persist; OPEX Upside Driven By Cost Cutting

August 16, 2012 8:03 AM EDT
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Price: $29.98 --0%

Rating Summary:
    32 Buy, 25 Hold, 2 Sell

Rating Trend: Down Down

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    Up: 13 | Down: 24 | New: 12
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Needham & Company maintains a 'Hold' on Cisco (NASDAQ: CSCO).

Analyst, Alex Henderson, said, "As is often the case in technology its always “compared to what”. Against a pessimistic backdrop where investors have been bracing for slowing conditions, Cisco’s guide and commentary was decidedly
mixed, which is better than decidedly bearish. The stock rallied on the 75% hike in the dividend."

"October Quarter Pre-NDS Guide of 2-%-4% Yr-Yr Revenue growth was below our and Street forecasts of around a 4% increase. GMs were also below EPS in line with Street $0.46 with $0.45-$0.47. NDS acquisition is accretive by ~$0.03-$0.04/sh. in FY 13." (FY12 EPS estimate raised from $1.90 to $1.93)

For an analyst ratings summary and ratings history on Cisco click here. For more ratings news on Cisco click here.

Shares of Cisco closed at $17.35 yesterday.

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