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Cisco Systems Is Primed for a Breakout: Chart

Networking and communication devices player Cisco Systems Inc. (CSCO) is set to report earnings on Wednesday after the market close. Wall Street analysts expect Cisco Systems to earn 61 cents per share on revenue of $12.06 billion.

This quarter is a tricky one to predict with any reliability for Cisco Systems, since the company is in the middle of a major transition from a hardware-centric player to a software and services company. Shares of CSCO are down around 4.9% over the last three months, and up around 5.2% year-to-date.

In a recent note to investors, Raymond James said, "Cisco continues to make progress on its evolution to a more software-centric company, and commentary from its recent analyst meeting is encouraging." With so much cash, there are also several M&A deals that could accelerate the company's current transition.

The current short interest as a percentage of the float for Cisco Systems isn't much at just 0.78%. That means that out of the 4.99...