Wall Street Zen downgraded shares of Logitech International (NASDAQ:LOGI – Free Report) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.
A number of other research analysts have also recently issued reports on the company. Weiss Ratings cut Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 2nd. Wedbush reduced their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a research report on Tuesday, June 30th. Finally, Morgan Stanley dropped their price objective on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and a consensus target price of $105.29.
View Our Latest Stock Report on Logitech International
Logitech International Stock Performance
Logitech International (NASDAQ:LOGI – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Logitech International will post 5.18 EPS for the current fiscal year.
Logitech International Cuts Dividend
The firm also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $1.36 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a dividend yield of 126.0%.
Institutional Trading of Logitech International
Several institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in shares of Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock valued at $86,000 after buying an additional 114 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in Logitech International by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock valued at $1,812,000 after acquiring an additional 120 shares during the period. Guggenheim Capital LLC grew its position in Logitech International by 1.3% during the 2nd quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after acquiring an additional 126 shares during the last quarter. Corient Private Wealth LLC grew its position in Logitech International by 1.2% during the 2nd quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company’s stock worth $971,000 after acquiring an additional 126 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Logitech International by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after purchasing an additional 145 shares during the period. Institutional investors own 45.76% of the company’s stock.
About Logitech International
Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.
The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.
Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.
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