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Cisco Systems, Inc. (NASDAQ:CSCO) reported that its board of directors approved amendments to the company’s Amended and Restated Bylaws on Thursday. According to a statement in a recent SEC filing, the changes took immediate effect.
The amendments introduce a cure process for certain deficiencies in director nomination notices submitted by stockholders. Under the revised bylaws, if a nomination notice is received within the specified time period and contains deficiencies, Cisco will notify the stockholder of those deficiencies. The stockholder will then have an opportunity to correct the identified issues. For deeper insights into Cisco’s governance metrics and comprehensive analysis, access the full Pro Research Report available on InvestingPro.
The company also stated that the amendments include ministerial changes designed to provide clarification and consistency to the bylaws.
Cisco noted that the summary provided in the filing does not represent a complete description of the amendments. The full text of the Amended and Restated Bylaws, as well as a version highlighting the changes from the prior version, were included as exhibits to the Form 8-K.
This information is based on a press release statement included in Cisco’s SEC filing.
In other recent news, Cisco reported its fiscal fourth-quarter earnings, surpassing Wall Street expectations. The company announced earnings per share of $0.99 and revenue of $14.7 billion, slightly exceeding the anticipated $14.62 billion. Following these results, Evercore ISI raised its price target for Cisco to $74 from $72, while maintaining an "In Line" rating. BofA Securities also increased its price target to $85 from $76, citing Cisco’s revamped portfolio and improved execution as reasons for the upgrade. KeyBanc Capital Markets reiterated its Overweight rating with a price target of $77, highlighting the company’s strong performance in its Networking segment and healthy product order growth. However, Piper Sandler lowered its price target to $64 from $70, maintaining a Neutral rating due to a modest growth outlook and fiscal year 2026 guidance that did not meet bullish expectations. These developments reflect a mixed but generally positive sentiment among analysts regarding Cisco’s future prospects.
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