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This stock reminds Cramer of ... Shakespeare

Not every company makes CNBC's Jim Cramer invoke Shakespeare. But he feels strongly about this one.

Cisco Systems' recent quarter, and a lack of urgency among analysts and company leadership there, forced Cramer to cite a Shakespearean play Thursday on "Squawk on the Street," and not the kind with a happy ending.

"My kingdom for a horse, John Chambers," Cramer said, referring to Cisco CEO John Chambers and citing "Richard III." "He has no leg to stand on."

Shares of Cisco were down just under 4 percent in the first half of Thursday's trading session, based off a disappointing growth outlook. The company beat earnings estimates when it posted first-quarter results Wednesday, but Cramer remains concerned about its growth prospects.

(Read more: Cisco tops earnings expectations, boosts dividend)

A longtime critic of the global networking giant, Cramer added that a surprising company has been eating Cisco's lunch—French telecommunications equipment maker Alcatel-Lucent, which posted a big loss last quarter. Cramer said Cisco appeared to be losing share in its data center business to Alcatel-Lucent and losing momentum in developing economies like China.

"That's not good," Cramer said. "I'm not kidding. ... I don't like that quarter at all. ... You've got lower sales. You've got lower gross margins. When is that something we want?"

(Read more: Cramer: 'Open rebellion' among Cisco investors)

No other company gets a free pass for sluggish growth like Cisco, he added.

"The amen chorus from the analysts I find to be exasperating," Cramer said. "This was a company that was a great growth company and it's not anymore."

—By CNBC's Jeff Morganteen. Follow him on Twitter at @jmorganteen and get the latest stories from "Squawk on the Street."