Wall Street Zen Downgrades Logitech International (NASDAQ:LOGI) to Hold

Logitech International (NASDAQ:LOGI) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

LOGI has been the topic of several other research reports. Barclays dropped their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley lowered their price target on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. JPMorgan Chase & Co. dropped their price objective on Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Weiss Ratings downgraded Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. Finally, Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Logitech International presently has a consensus rating of “Hold” and an average price target of $105.29.

Logitech International Stock Performance

Shares of LOGI stock opened at $102.70 on Friday. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The firm’s fifty day moving average price is $101.59 and its two-hundred day moving average price is $100.64. The firm has a market capitalization of $15.05 billion, a P/E ratio of 18.84, a PEG ratio of 3.79 and a beta of 1.18.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.59. The company had revenue of $1.23 billion during 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. As a group, equities research analysts forecast that Logitech International will post 5.18 EPS for the current fiscal year.

Institutional Trading of Logitech International

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Logitech International during the 3rd quarter worth approximately $30,000. CIBC Private Wealth Group LLC lifted its holdings in Logitech International by 61.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after purchasing an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after purchasing an additional 165 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Logitech International by 911.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after purchasing an additional 611 shares during the period. Finally, Fifth Third Bancorp boosted its position in 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 purchasing an additional 145 shares during the period. 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.