Logitech International (NASDAQ:LOGI) Cut to Hold at BNP Paribas

BNP Paribas cut shares of Logitech International (NASDAQ:LOGI) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

LOGI has been the subject of a number of other research reports. Barclays increased their price objective on shares of Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wall Street Zen cut Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Zacks Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Logitech International in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target on shares of Logitech International from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Logitech International currently has an average rating of “Hold” and a consensus target price of $108.89.

Logitech International Stock Performance

LOGI opened at $95.10 on Thursday. The company has a 50-day moving average price of $110.79 and a 200 day moving average price of $105.49. Logitech International has a twelve month low of $64.73 and a twelve month high of $123.01.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, October 28th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.23. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, equities analysts forecast that Logitech International will post 4.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Neela Montgomery sold 5,833 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the sale, the director directly owned 12,781 shares in the company, valued at approximately $1,541,516.41. The trade was a 31.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in shares of Logitech International by 1,784.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 689,908 shares of the technology company’s stock valued at $71,004,000 after acquiring an additional 653,296 shares during the period. Park Avenue Securities LLC increased its holdings in Logitech International by 43.3% in the 4th quarter. Park Avenue Securities LLC now owns 28,846 shares of the technology company’s stock valued at $2,891,000 after purchasing an additional 8,717 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Logitech International in the third quarter valued at approximately $1,678,000. Polar Asset Management Partners Inc. purchased a new stake in Logitech International in the third quarter valued at approximately $208,000. Finally, First Affirmative Financial Network acquired a new position in Logitech International during the third quarter worth $218,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Company Profile

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.