Logitech International’s (LOGI) “Underweight” Rating Reiterated at Morgan Stanley

Logitech International (NASDAQ:LOGI)‘s stock had its “underweight” rating restated by equities research analysts at Morgan Stanley in a report issued on Tuesday,Benzinga reports. They presently have a $89.00 target price on the technology company’s stock, down from their prior target price of $107.00. Morgan Stanley’s price target would suggest a potential downside of 6.79% from the company’s previous close.

LOGI has been the topic of several other reports. Wedbush upped their price objective on shares of Logitech International from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. BNP Paribas cut shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Barclays reissued an “equal weight” rating and issued a $98.00 price target (down previously from $134.00) on shares of Logitech International in a report on Friday. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Finally, BNP Paribas Exane lowered shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price for the company. in a research report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $102.89.

Logitech International Trading Down 1.2%

Shares of LOGI stock opened at $95.48 on Tuesday. Logitech International has a 52-week low of $64.73 and a 52-week high of $123.01. The business’s fifty day moving average is $107.94 and its 200 day moving average is $105.84.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.22 by $0.23. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that Logitech International will post 4.21 earnings per share for the current year.

Insider Activity

In related news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $120.61, for a total transaction of $703,518.13. Following the transaction, the director owned 12,781 shares of the company’s stock, valued at approximately $1,541,516.41. This trade represents a 31.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Logitech International

Institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC purchased a new position in shares of Logitech International in the second quarter worth about $27,000. Quarry LP purchased a new stake in Logitech International during the 3rd quarter valued at about $30,000. Mather Group LLC. bought a new position in Logitech International during the 3rd quarter worth approximately $34,000. Westerkirk Capital Inc. bought a new position in Logitech International during the 2nd quarter worth approximately $36,000. Finally, Richardson Financial Services Inc. increased its stake in Logitech International by 63.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock worth $36,000 after purchasing an additional 128 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.