Deborah L. Stahlkopf, Executive Vice President and Chief Legal Officer at Cisco Systems, Inc. (NASDAQ:CSCO), recently sold 2,660 shares of the company's common stock. The transaction comes as Cisco, with its $234.58B market capitalization, trades near its 52-week high of $60.23, demonstrating strong momentum with a 31% return over the past six months. The shares were sold on December 12 at a weighted average price of $59.2132 per share, totaling approximately $157,507. This transaction was executed under a previously established Rule 10b5-1 trading plan.
In a related transaction on December 10, Stahlkopf disposed of 1,728 shares at a price of $58.95 each, representing shares withheld to cover tax liabilities from a restricted stock unit award. Following these transactions, Stahlkopf holds 214,712 shares of Cisco common stock.
In other recent news, Cisco Systems reported significant developments. The company's Q1 FY2025 performance was robust, with revenues reaching $13.8 billion and non-GAAP earnings per share (EPS) of $0.91, surpassing expectations. Despite a 23% decline in networking revenue and a 9% decline in product revenue, Cisco's focus on artificial intelligence (AI) infrastructure and security witnessed substantial demand, leading to a more than doubling of security orders and a 20% year-over-year increase in product orders.
In addition to financial performance, Cisco's shareholders elected nine members to the Board of Directors and approved executive compensation in the recent annual meeting. Furthermore, PricewaterhouseCoopers LLP was ratified as Cisco’s independent registered public accounting firm for the fiscal year ending July 26, 2025.
Analysts have revised their earnings upwards for the upcoming period, according to InvestingPro analysis. For FY2025, Cisco anticipates revenue between $55.3 billion and $56.3 billion, with non-GAAP EPS expected between $3.60 and $3.66. These recent developments reflect the company's strategic investments in AI and networking, its integration of Splunk (NASDAQ:SPLK), and its ability to navigate macroeconomic challenges while maintaining optimism about long-term growth.
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