Logitech International (NASDAQ:LOGI) Given New $115.00 Price Target at Citigroup

Logitech International (NASDAQ:LOGI) had its price objective reduced by research analysts at Citigroup from $130.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s price target would suggest a potential upside of 26.30% from the company’s current price.

Other equities analysts also recently issued research reports about the company. BNP Paribas downgraded Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a research note on Wednesday, October 8th. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a report on Tuesday. Zacks Research cut Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $89.00 target price (down previously from $107.00) on shares of Logitech International in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued 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 4.6%

LOGI traded down $4.43 during mid-day trading on Tuesday, hitting $91.05. The stock had a trading volume of 1,201,979 shares, compared to its average volume of 1,202,664. Logitech International has a 1-year low of $64.73 and a 1-year high of $123.01. The stock’s fifty day simple moving average is $107.94 and its 200-day simple moving average is $105.84.

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

Insider Buying and Selling at Logitech International

In other Logitech International news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $120.61, for a total transaction of $703,518.13. Following the completion of the sale, the director directly owned 12,781 shares in the company, valued at approximately $1,541,516.41. This trade represents a 31.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Logitech International

A number of hedge funds and other institutional investors have recently bought and sold shares of LOGI. Fifth Third Bancorp lifted its holdings in Logitech International by 16.6% during the third quarter. Fifth Third Bancorp now owns 751 shares of the technology company’s stock worth $82,000 after acquiring an additional 107 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Logitech International by 6.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,886 shares of the technology company’s stock valued at $207,000 after buying an additional 107 shares during the period. NatWest Group plc boosted its holdings in Logitech International by 0.5% in the 3rd quarter. NatWest Group plc now owns 22,813 shares of the technology company’s stock valued at $2,502,000 after purchasing an additional 113 shares during the period. Pathstone Holdings LLC increased its stake in Logitech International by 0.7% in the 3rd quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock worth $1,812,000 after acquiring an additional 120 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in Logitech International by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 11,389 shares of the technology company’s stock valued at $1,249,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

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.