Wall Street Zen lowered shares of Logitech International (NASDAQ:LOGI – Free Report) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.
LOGI has been the topic of a number of other research reports. Barclays upped their target price on shares of Logitech International from $101.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Wedbush dropped their price objective 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. Morgan Stanley raised their price target on Logitech International from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings cut shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.29.
Get Our Latest Stock Analysis on LOGI
Logitech International Price Performance
Shares of NASDAQ:LOGI opened at $95.53 on Friday. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 5.08 and a beta of 1.21. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The company’s 50 day simple moving average is $101.98 and its 200 day simple moving average is $99.72.
Logitech International (NASDAQ:LOGI – Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.17. Logitech International had a return on equity of 37.09% and a net margin of 16.36%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. Logitech International’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that Logitech International will post 5.24 EPS for the current fiscal year.
Insider Buying and Selling at Logitech International
In other news, insider Samantha Harnett sold 16,265 shares of the 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 sale, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.15% of the company’s stock.
Institutional Trading of Logitech International
Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. raised 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 worth $98,189,000 after purchasing an additional 1,000,805 shares during the last quarter. Amundi boosted its position in shares of Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after buying an additional 563,564 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Logitech International by 26.6% in the first quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock valued at $188,847,000 after purchasing an additional 435,000 shares during the period. SEB Asset Management AB acquired a new position in shares of Logitech International in the 1st quarter valued at approximately $27,567,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Logitech International during the second quarter worth about $18,281,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.
Logitech International Company Profile
Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.
The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.
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