Cisco provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points and servers, as well as next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice and video applications.
Its cybersecurity products give clients the scope, scale and capabilities to keep up with the complexity and volume of threats. Putting security above everything helps corporations innovate while keeping their assets safe.
The networking giant posted solid results for the first quarter of fiscal 2023, solidly beating earnings expectations and offering positive forward guidance. The company will report second-quarter results in mid-August.
Shareholders receive a solid 2.94% dividend. J.P. Morgan has set its target price at $62. Cisco Systems stock has a $50.23 consensus target, but Monday’s close was at $52.04.
Corning
This continues to be a huge pioneer and player in the fiber optic world, and second-quarter revenues topped estimates. Corning Inc. (NYSE: GLW) engages in the display technologies, optical communications, environmental technologies, specialty materials and life sciences businesses worldwide.
Its Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets and handheld devices.
The Optical Communications segment provides optical fibers and cables, as well as hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments and individuals.
The Specialty Materials segment manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments and software, as well as glass wafers and substrates, tinted sunglasses and radiation shielding products for various markets comprising mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses and telecommunications components.
The Environmental Technologies segment provides ceramic substrates and filter products for emissions control in mobile, gasoline and diesel applications.
Its Life Sciences segment offers laboratory products, including consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media and serum, as well as general labware and glassware and equipment under the Corning, Falcon, Pyrex and Axygen brands.
Corning stock comes with a 3.31% dividend. Citigroup’s $40 price target compares with a $38.08 consensus target and the most recent close at $33.94.
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