11 Cheap NASDAQ Stocks to Buy According to Hedge Funds

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5. Cisco Systems Inc. (NASDAQ:CSCO)

Forward P/E Ratio as of April 21: 14.12

Number of Hedge Fund Holders: 84

Cisco Systems Inc. (NASDAQ:CSCO) designs, manufactures, and sells Internet Protocol-based networking and other products related to the communications and information technology industry. It also offers a range of service and support options for its customers, such as technical support and advanced services & advisory services.

On March 14, Evercore ISI analyst Amit Daryanani maintained a Buy rating on the stock and set a price target of $75. This was due to the Cisco and NVIDIA partnership, and also the unveiling of a new AI factory architecture. The Cisco Secure AI Factory, together with NVIDIA, will use solutions like Cisco AI Defense and Hybrid Mesh Firewall to enhance AI infrastructure and security while streamlining enterprise AI adoption.

In the FQ2 2025, orders specifically for Cisco’s AI infrastructure from webscaler customers surpassed $350 million. Cisco Systems Inc. (NASDAQ:CSCO) is on track to exceed $1 billion in AI infrastructure orders in FY2025, demonstrating the rapid growth in this area. The company’s strategy in AI infrastructure focuses on providing high-performance networking solutions, which include the 800 gig Nexus switches based on the Silicon One chip.

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