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

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

Several other analysts also recently issued reports on the company. Wedbush increased their price target on Logitech International from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $100.00 to $130.00 in a research report on Wednesday, October 15th. JPMorgan Chase & Co. increased their target price on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Zacks Research upgraded Logitech International from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Barclays upped their price target on Logitech International from $107.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Logitech International has an average rating of “Moderate Buy” and a consensus price target of $109.22.

Logitech International Stock Performance

NASDAQ LOGI opened at $105.26 on Friday. Logitech International has a one year low of $64.73 and a one year high of $123.01. The company’s 50 day moving average price is $113.64 and its 200 day moving average price is $104.42.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.23. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Logitech International will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the transaction, the director owned 12,781 shares of the company’s stock, valued at approximately $1,541,516.41. This represents a 31.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Logitech International

A number of institutional investors have recently made changes to their positions in LOGI. Fulton Bank N.A. boosted its stake in shares of Logitech International by 1.5% during the 2nd quarter. Fulton Bank N.A. now owns 7,000 shares of the technology company’s stock valued at $631,000 after buying an additional 106 shares during the last quarter. Fifth Third Bancorp raised its holdings in Logitech International by 16.6% in the third quarter. Fifth Third Bancorp now owns 751 shares of the technology company’s stock valued at $82,000 after acquiring an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Logitech International by 6.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,886 shares of the technology company’s stock valued at $207,000 after acquiring an additional 107 shares in the last quarter. NatWest Group plc boosted its stake in Logitech International by 0.5% during the 3rd quarter. NatWest Group plc now owns 22,813 shares of the technology company’s stock valued at $2,502,000 after acquiring an additional 113 shares during the last quarter. Finally, Pathstone Holdings LLC grew its holdings in Logitech International by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock worth $1,812,000 after acquiring an additional 120 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

About Logitech International

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.