Cisco Systems announces plan to buy back stock

Cisco Systems announces plan to buy back stock

Cisco Systems has announced their decision to enhance their stock buyback effort by $10 billion.

This means that the company believes that their stock is undervalued at the stock market.

The company aims to increase the value of remaining investors’ stakes. This is also going to help them protect their image in the market.

Cisco is the dominating player in the Internet routers and switches market. They have already bought back 2.3 billion shares for a total of $46.2 billion.

Their buyback program has already helped them by doubling the share price in the last couple of years.