Logitech International (LOGI) Raised to “Buy” at BidaskClub

Logitech International (NASDAQ:LOGI) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Zacks Investment Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Logitech International presently has a consensus rating of “Buy” and an average price target of $44.60.

Logitech International (NASDAQ LOGI) opened at $37.33 on Friday. Logitech International has a 1 year low of $24.99 and a 1 year high of $40.82. The stock has a market cap of $5,956.22, a price-to-earnings ratio of 28.72 and a beta of 0.39.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, October 23rd. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.11. Logitech International had a net margin of 9.32% and a return on equity of 24.58%. The company had revenue of $634.21 million during the quarter, compared to analyst estimates of $630.23 million. During the same period in the previous year, the business earned $0.35 earnings per share. analysts expect that Logitech International will post 1.24 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. raised its stake in shares of Logitech International by 724.0% during the third quarter. Macquarie Group Ltd. now owns 811,952 shares of the technology company’s stock valued at $29,621,000 after acquiring an additional 713,418 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Logitech International by 19.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,759,693 shares of the technology company’s stock valued at $100,708,000 after acquiring an additional 441,947 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Logitech International by 35.8% during the third quarter. Allianz Asset Management GmbH now owns 1,234,689 shares of the technology company’s stock valued at $45,429,000 after acquiring an additional 325,517 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Logitech International by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 496,189 shares of the technology company’s stock valued at $18,108,000 after acquiring an additional 197,021 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Logitech International by 4.3% during the second quarter. Vanguard Group Inc. now owns 3,600,997 shares of the technology company’s stock valued at $132,012,000 after acquiring an additional 147,619 shares during the last quarter. Institutional investors and hedge funds own 38.23% of the company’s stock.

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Logitech International Company Profile

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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