SAN JOSE, CA—Thimaya K. Subaiya, Executive Vice President of Operations at Cisco Systems, Inc. (NASDAQ:CSCO), recently sold shares of the company valued at approximately $180,058. The transaction, executed on December 12, 2024, was conducted under a pre-arranged trading plan established on March 15, 2024. The sale comes as Cisco, currently valued at $234.58 billion, trades near its 52-week high of $60.23, having delivered an impressive 31.39% return over the past six months. According to InvestingPro analysis, the stock is currently fairly valued.
Subaiya sold 3,042 shares at a weighted average price of $59.19 per share. The sale was part of multiple transactions with prices ranging from $59.06 to $59.54. Following the sale, Subaiya holds 207,798 shares in the company. InvestingPro data reveals that Cisco has maintained dividend payments for 14 consecutive years, demonstrating consistent shareholder returns. Subscribers can access 10+ additional ProTips and comprehensive financial metrics through the Pro Research Report.
Additionally, on December 10, 2024, 2,994 shares were withheld to cover tax liabilities associated with the partial settlement of restricted stock units, priced at $58.95 each. This transaction, however, was not a market sale.
The transactions reflect Subaiya's ongoing management of his equity holdings in Cisco, a leading provider in the computer communications equipment sector.
In other recent news, Cisco Systems, Inc. reported strong Q1 FY2025 performance, with revenues reaching $13.8 billion and non-GAAP earnings per share (EPS) of $0.91, surpassing expectations. The company's focus on artificial intelligence (AI) infrastructure and security resulted in a more than doubling of security orders and a 20% year-over-year increase in product orders. However, Cisco experienced a 23% decline in networking revenue and a 9% decline in product revenue. Despite these challenges, Cisco anticipates revenue between $55.3 billion and $56.3 billion for FY2025, with non-GAAP EPS expected between $3.60 and $3.66.
In other recent developments, shareholders approved the election of nine members to Cisco's Board of Directors and executive compensation during the annual meeting. PricewaterhouseCoopers LLP was also ratified as Cisco’s independent registered public accounting firm for the fiscal year ending July 26, 2025. As per InvestingPro data, 19 analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook towards the company's financial performance. These developments reflect the shareholders' trust in the current management and strategic direction of Cisco.
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