Logitech International (NASDAQ:LOGI) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a research report released on Monday,Wall Street Zen reports.

LOGI has been the subject of several other reports. Bank of America downgraded shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a research note on Tuesday, June 30th. JPMorgan Chase & Co. reduced their price target on Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Morgan Stanley decreased their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a report on Wednesday, July 8th. Barclays lowered their price objective on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, Wedbush dropped their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Logitech International presently has an average rating of “Hold” and an average price target of $105.29.

Logitech International Price Performance

LOGI opened at $100.33 on Monday. The business’s 50-day moving average is $101.94 and its two-hundred day moving average is $101.45. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The firm has a market capitalization of $14.71 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 3.69 and a beta of 1.18.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.59. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, sell-side analysts expect that Logitech International will post 5.24 EPS for the current year.

Insider Activity

In related news, insider Samantha Harnett sold 16,265 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the transaction, the insider owned 37,097 shares in the company, valued at $3,759,780.95. This trade represents a 30.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 currently owned by insiders.

Institutional Trading of Logitech International

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Logitech International by 16.5% in the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after buying an additional 129,967 shares during the period. Entropy Technologies LP lifted its stake in Logitech International by 647.0% during the 1st quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock valued at $1,724,000 after acquiring an additional 16,388 shares during the period. Amundi lifted its stake in Logitech International by 51.2% during the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after acquiring an additional 563,564 shares during the period. Groupe la Francaise acquired a new stake in Logitech International during the 1st quarter valued at approximately $4,668,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Logitech International by 26.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock valued at $188,847,000 after acquiring an additional 435,000 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.