Wall Street Zen upgraded shares of Logitech International (NASDAQ:LOGI – Free Report) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.
LOGI has been the subject of a number of other reports. Morgan Stanley reduced their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a report on Wednesday, July 8th. Wedbush cut their price target on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings downgraded Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a research note on Tuesday, June 30th. Finally, Barclays cut their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $105.29.
Get Our Latest Stock Analysis on Logitech International
Logitech International Stock Performance
Logitech International (NASDAQ:LOGI – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts predict that Logitech International will post 5.18 EPS for the current fiscal year.
Insider Buying and Selling at Logitech International
In related news, insider Samantha Harnett sold 16,265 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the transaction, the insider directly owned 37,097 shares of the company’s stock, valued at $3,759,780.95. This trade represents a 30.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in shares of Logitech International by 2,227.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock valued at $98,189,000 after buying an additional 1,000,805 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Logitech International by 43.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock worth $304,151,000 after purchasing an additional 906,807 shares during the period. Norges Bank bought a new stake in shares of Logitech International in the 4th quarter worth approximately $89,248,000. Allianz Asset Management GmbH lifted its holdings in shares of Logitech International by 57.4% in the 4th quarter. Allianz Asset Management GmbH now owns 1,556,342 shares of the technology company’s stock worth $160,175,000 after purchasing an additional 567,810 shares during the last quarter. Finally, Amundi boosted its position in Logitech International by 51.2% during the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after purchasing an additional 563,564 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.
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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