Morgan Stanley Issues Positive Forecast for Logitech International (NASDAQ:LOGI) Stock Price

Logitech International (NASDAQ:LOGI) had its price target increased by analysts at Morgan Stanley from $90.00 to $94.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the technology company’s stock. Morgan Stanley‘s price target would suggest a potential downside of 4.19% from the stock’s current price.

Several other equities analysts have also weighed in on LOGI. Weiss Ratings lowered shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. 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. JPMorgan Chase & Co. lowered their target price on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Wall Street Zen upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays increased their price target on Logitech International from $101.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $106.29.

Logitech International Stock Performance

NASDAQ:LOGI traded down $13.71 on Wednesday, hitting $98.11. 1,970,610 shares of the stock were exchanged, compared to its average volume of 1,086,876. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 4.08 and a beta of 1.14. Logitech International has a 52 week low of $83.32 and a 52 week high of $129.66. The company’s 50-day moving average price is $102.01 and its 200 day moving average price is $99.71.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, October 27th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.17. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm earned $1.45 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Logitech International will post 5.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the sale, the insider owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Logitech International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its holdings in shares of Logitech International by 15.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock valued at $86,000 after purchasing an additional 114 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Logitech International by 19.1% during the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after buying an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Logitech International by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,019 shares of the technology company’s stock worth $364,000 after buying an additional 171 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in Logitech International by 2.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 11,717 shares of the technology company’s stock valued at $1,068,000 after buying an additional 317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Logitech International by 14.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the technology company’s stock valued at $226,000 after buying an additional 320 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Logitech International

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

• Positive Sentiment: Logitech reported fiscal Q2 adjusted earnings of $1.51 per share, ahead of the $1.34 analyst consensus, while revenue of $1.22 billion slightly exceeded estimates of $1.21 billion. Revenue increased 2.8% year over year, supported by gaming and conferencing products. Logitech Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Barclays raised its Logitech price target from $101 to $110, implying upside from recent levels. However, the firm maintained an “equal weight” rating, suggesting limited conviction that the stock will outperform. Barclays Logitech Ratings
• Neutral Sentiment: Analysts’ consensus price target was reported at approximately $104.14, modestly above recent trading levels, while the company issued an outlook for the fiscal third quarter. Analyst Consensus for Logitech Stock
• Negative Sentiment: Investors focused on the quality of Logitech’s earnings rather than the headline beat. GAAP profit was weaker than adjusted results, earnings declined from the prior year on a reported basis, and free cash flow reportedly deteriorated. These issues raised concerns about margins and contributed to the selloff. Why Logitech Stock Crashed After Earnings
• Negative Sentiment: Reuters reported that Logitech lost significant market value as profit-taking and margin concerns overshadowed the quarterly profit beat. The reaction indicates that investors may have expected stronger profitability and cash generation despite the revenue and adjusted-EPS results. Logitech Margin Concerns Overshadow Profit Beat

About Logitech International

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.