Stock Update (NASDAQ:CSCO): Cisco wins U.S. patent dispute over wifi technology

[Reuters] – A U.S. appeals court on Monday cleared Cisco Systems Inc of infringing another company’s wifi technology, reversing a near $64-million judgement against the networking equipment maker in the long-running patent dispute. After eight years of litigation that also included a trip to the U.S. Supreme Court, the decision from the U.S. Court of Appeals for the Federal Circuit said Cisco was not liable for directly infringing or inducing others to infringe a patent held by Commil USA LLC on a way to help spread wireless signals over a large area, where multiple access points are needed. Representatives for Commil and Cisco could not immediately be reached on Monday. Read more on this. Cisco Systems, Inc. (CSCO) , currently valued at $138.45B, opened at $27.30. Looking at today’s market, CSCO one day range is $27.13 to $27.37 with a trailing 52-week range being $23.03 to $30.31. CSCO shares are currently priced at 12.06x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.87x earnings multiple for the same period. The company pays shareholders $0.84 per share annually in dividends, yielding 3.07%. Consensus earnings for the current quarter by the 35 sell-side analysts covering the stock is an estimate of $0.54 per share, which would be $0.01 better than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.27, which would be a $0.06 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.78 Billion. If realized, that would be a 1.34% decrease over the year-ago quarter. More recently, Morgan Stanley downgraded CSCO from Overweight to Equal-Weight (Aug 17, 2015). Previously, Macquarie Initiated CSCO at to Underperform. The average price target for CSCO shares by the analysts covering it is $30.63, which is 12.20% above where the stock opened. See more in (NASDAQ:CSCO) Similar Articles: Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Will Cisco (CSCO) Stock Be Affected by Bigger Than Expected Router Attack? Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – Stop the presses: Cisco says Cisco CEO is in charge of Cisco Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – One Reason Cisco (CSCO) Stock is Advancing