43.93 -0.13 (-0.30%)
After hours: 7:56PM EST
|Bid||43.94 x 1300|
|Ask||44.03 x 1400|
|Day's Range||43.73 - 44.61|
|52 Week Range||37.35 - 49.47|
|Beta (3Y Monthly)||1.11|
|PE Ratio (TTM)||168.17|
|Earnings Date||Feb 13, 2019|
|Forward Dividend & Yield||1.32 (2.88%)|
|1y Target Est||52.46|
As networks get put under increasing pressure from ever-growing amounts of data, network equipment manufacturers are facing huge challenges to increase data transmissions speeds over further distances. As a premiere networking equipment company, Cisco wants to be prepared to meet that demand. Today, it opened up its checkbook and announced its intent to acquire Luxtera for $660 million.
Cisco Systems agreed to buy Luxtera, a maker of silicon photonic devices used in high-speed communications networks, for $660 million in cash. Cisco stock rose in early trading on Tuesday.
LAS VEGAS, Dec. 18, 2018 /PRNewswire/ -- The way people meet continues to evolve, and Park MGM and Cisco are ready to provide that next-level meeting experience in the new 7,000-square-foot Ideation Studio, the most recent member of elite meetings association IACC. Working with Cisco Systems, Park MGM is the world's first hotel to offer groups Cisco Webex™ Boards and Cisco Webex Teams, providing teams a combined real and virtual meeting space for collaborating, video calling, whiteboarding and sharing notes, files and presentations.
Share repurchases during the third quarter by companies in the S&P 500 soared 58% from a year ago to a quarterly record of $203.8 billion, according to S&P Dow Jones Indices. That marks the third consecutive quarterly record, a sign that companies were using savings from the corporate tax rate cut that went into effect this year to ramp up shareholder returns. The percentage of companies that used buyback to reduced the number of outstanding shares by at least 4% increased 18%, after rising 15% in the second quarter. "Companies have used their tax savings to push up discretionary buybacks and boost earnings through significantly reduced share counts," said S&P Dow Jones Senior Index Analyst Howard Silverblatt. "The buying, while broad, continued to be top heavy, with the top 20 issues accounting for 54.3% of all S&P 500 buybacks, a level not seen since Q1 2010, when it was at 59.8%." The top share repurchases were Qualcomm Inc. , which bought back $21.1 billion worth of its shares during the third quarter, followed by Apple Inc. , which spent $19.4 billion.
- Q3 share repurchases increase 57.7% year over year to a record $203.8 billion - This is the third consecutive quarterly record, up 6.9% from Q2 2018 - Q1 to Q3 year-to-date expenditures are only 1% shy ...
The price paid is several times more than the private valuation of $208 million the chip tech company was given after a venture round in 2014, according to PitchBook Data.
Cisco is in the midst of a massive shakeup as it aims to transition away from its legacy businesses to a software and subscription model. It appears even the very accelerator programs aimed at helping the 33-year-old company innovate aren't immune from the restructuring.
Cisco (CSCO) today announced the intent to acquire privately-held Luxtera, Inc, a semiconductor company based in Carlsbad, California that uses silicon photonics to build integrated optics capabilities for webscale and enterprise data centers, service provider market segments, and other customers. Luxtera’s technology, design, and manufacturing innovation significantly improves chip scale and performance, while lowering costs. "With Cisco’s 2018 Visual Networking Index projecting that global Internet traffic will increase threefold over the next five years, our customers are facing an exponential demand for Internet bandwidth,” said David Goeckeler, executive vice president and general manager, Networking and Security Business at Cisco.
The markets have been moving quickly and the S&P 500 could jump 10 percent to finish the year, Fundstrat Global Advisors' Tom Lee says. "I think the market is gravitating toward quality names," he says. Buy Walt Disney over Netflix and Cisco over FAANG stocks to position yourself, he says.
"I think, to me, anything that happens between now and year-end is a lot more about positioning than macro development," Fundstrat's Tom Lee says.