Citigroup Boosts Logitech International (NASDAQ:LOGI) Price Target to $124.00

Logitech International (NASDAQ:LOGI) had its target price raised by Citigroup from $115.00 to $124.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 13.36% from the stock’s current price.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Barclays upped their price objective on Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday. Morgan Stanley restated an “underweight” rating and issued a $89.00 price objective (down from $107.00) on shares of Logitech International in a research report on Tuesday, January 20th. Finally, Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of Logitech International in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.67.

Logitech International Stock Performance

Logitech International stock opened at $109.39 on Thursday. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 2.61 and a beta of 1.07. Logitech International has a fifty-two week low of $80.08 and a fifty-two week high of $123.01. The stock’s fifty day moving average is $94.08 and its two-hundred day moving average is $100.75.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Logitech International had a return on equity of 34.12% and a net margin of 14.69%.The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. Logitech International’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Logitech International will post 5.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Logitech International

Several large investors have recently added to or reduced their stakes in LOGI. AQR Capital Management LLC lifted its position in Logitech International by 61.2% during the first quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock worth $352,000 after buying an additional 1,585 shares during the period. Rhumbline Advisers lifted its position in Logitech International by 3.3% during the second quarter. Rhumbline Advisers now owns 4,732 shares of the technology company’s stock worth $426,000 after buying an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after buying an additional 165 shares during the period. EverSource Wealth Advisors LLC lifted its position in Logitech International by 13.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock worth $160,000 after buying an additional 206 shares during the period. Finally, Guggenheim Capital LLC lifted its position in Logitech International by 1.3% during the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after buying an additional 126 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Logitech International

Here are the key news stories impacting Logitech International this week:

• Positive Sentiment: Logitech completed its $1.6 billion share buyback and launched a new three-year $1.4 billion repurchase program, reinforcing management’s capital-return strategy and supporting the stock. Logitech Completes $1.6 Billion Share Buyback and Launches New $1.4 Billion Program
• Positive Sentiment: The CEO said Logitech will increase spending on R&D and marketing to push growth in AI, gaming, and business users, signaling confidence in future demand. Logitech CEO plans to boost spending on R&D and marketing
• Positive Sentiment: Citigroup raised its price target on Logitech and kept a Buy rating, suggesting more upside from current levels. Logitech International price target raised by Citigroup
• Positive Sentiment: Wedbush initiated or reiterated an Outperform view, adding to the positive analyst tone around the stock. Logitech International Given Outperform Rating at Wedbush
• Neutral Sentiment: Logitech also launched new Rugged Combo 4c keyboard cases for iPad, a product update that supports its education lineup but is unlikely to be a major near-term stock driver. New Logitech Rugged Combo 4c Keyboard Cases
• Neutral Sentiment: Some analysts trimmed or only modestly adjusted earnings estimates, indicating expectations are still stable rather than sharply improving. Logitech earnings estimate updates
• Negative Sentiment: Barclays lifted its target but kept an Equal Weight rating and implied limited downside/upside balance, which may temper enthusiasm at higher share prices. Logitech International price target raised by Barclays
• Negative Sentiment: Management’s plan to boost spending could pressure margins if demand softens during a global slowdown, creating some risk around profitability. Logitech CEO plans to boost spending on R&D and marketing

About Logitech International

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.