Logitech International S.A. (LOGI) Given Consensus Rating of “Buy” by Brokerages
Shares of Logitech International S.A. (NASDAQ:LOGI) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $38.80.
LOGI has been the subject of a number of recent research reports. Loop Capital initiated coverage on shares of Logitech International in a research report on Monday, July 24th. They set a “buy” rating and a $48.00 price target for the company. Citigroup Inc. initiated coverage on shares of Logitech International in a research report on Thursday, July 6th. They set a “buy” rating and a $44.00 price target for the company. Finally, Zacks Investment Research raised shares of Logitech International from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a research report on Tuesday, September 19th.
Shares of Logitech International (LOGI) traded up 0.6876% during mid-day trading on Wednesday, reaching $36.9725. 68,488 shares of the company traded hands. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 27.8617 and a beta of 0.59. Logitech International has a 52 week low of $21.14 and a 52 week high of $40.82. The firm has a 50-day moving average price of $36.17 and a 200 day moving average price of $35.52.
Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, July 24th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Logitech International had a net margin of 9.15% and a return on equity of 25.18%. The company had revenue of $529.95 million during the quarter, compared to analyst estimates of $521.24 million. On average, analysts anticipate that Logitech International will post $1.46 earnings per share for the current year.
The business also recently declared a dividend, which was paid on Wednesday, September 27th. Investors of record on Tuesday, September 26th were paid a $0.6454 dividend. The ex-dividend date was Monday, September 25th. This is a boost from Logitech International’s previous dividend of $0.52. Logitech International’s dividend payout ratio (DPR) is currently 199.19%.
In other Logitech International news, CFO Vincent Pilette sold 53,370 shares of Logitech International stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $36.29, for a total transaction of $1,936,797.30. Following the sale, the chief financial officer now owns 460,127 shares of the company’s stock, valued at approximately $16,698,008.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bracken Darrell sold 49,215 shares of Logitech International stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $36.32, for a total transaction of $1,787,488.80. Following the sale, the chief executive officer now directly owns 940,542 shares in the company, valued at approximately $34,160,485.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 319,245 shares of company stock worth $11,549,298. 2.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in LOGI. Schroder Investment Management Group boosted its stake in Logitech International by 71.6% during the 2nd quarter. Schroder Investment Management Group now owns 4,704,135 shares of the technology company’s stock worth $161,352,000 after purchasing an additional 1,962,561 shares during the last quarter. FMR LLC acquired a new stake in Logitech International during the 1st quarter worth $16,691,000. Alliancebernstein L.P. boosted its stake in Logitech International by 56.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,338,293 shares of the technology company’s stock worth $49,062,000 after purchasing an additional 485,182 shares during the last quarter. Citigroup Inc. boosted its stake in Logitech International by 62.9% during the 2nd quarter. Citigroup Inc. now owns 698,112 shares of the technology company’s stock worth $25,019,000 after purchasing an additional 269,477 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Logitech International by 88.6% during the 1st quarter. AQR Capital Management LLC now owns 398,430 shares of the technology company’s stock worth $12,678,000 after purchasing an additional 187,225 shares during the last quarter. 37.83% of the stock is currently owned by institutional investors.
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About Logitech International
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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