Logitech International (NASDAQ:LOGI) Receives “Neutral” Rating from Wedbush

Wedbush reissued their neutral rating on shares of Logitech International (NASDAQ:LOGI) in a report released on Tuesday morning, Benzinga reports. Wedbush currently has a $92.00 target price on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Logitech International from a strong-buy rating to a buy rating in a report on Thursday, March 14th. Morgan Stanley reissued an underweight rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Barclays raised their price target on shares of Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft reissued a sell rating on shares of Logitech International in a research report on Tuesday, April 16th. Finally, Berenberg Bank assumed coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a buy rating and a $111.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $92.43.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $79.01 on Tuesday. The stock has a market capitalization of $12.50 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.62 and a beta of 0.74. The company has a 50-day moving average price of $87.60 and a 200-day moving average price of $86.27. Logitech International has a 1 year low of $53.91 and a 1 year high of $96.66.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.43. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. As a group, equities research analysts anticipate that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the completion of the transaction, the chief operating officer now owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Prakash Arunkundrum sold 23,023 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the sale, the chief operating officer now owns 61,056 shares of the company’s stock, valued at $5,495,040. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $2,207,555 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its holdings in Logitech International by 764.4% during the 1st quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after buying an additional 344 shares during the last quarter. Raymond James & Associates raised its holdings in Logitech International by 2.5% during the 1st quarter. Raymond James & Associates now owns 62,414 shares of the technology company’s stock valued at $5,578,000 after buying an additional 1,512 shares during the last quarter. Norden Group LLC bought a new stake in Logitech International during the 1st quarter valued at $452,000. Azzad Asset Management Inc. ADV raised its holdings in Logitech International by 0.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 37,008 shares of the technology company’s stock valued at $3,307,000 after buying an additional 303 shares during the last quarter. Finally, Claro Advisors LLC raised its holdings in Logitech International by 6.2% during the 1st quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock valued at $200,000 after buying an additional 131 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.