Logitech International S.A. (NASDAQ:LOGI) Receives Average Rating of “Hold” from Brokerages

Logitech International S.A. (NASDAQ:LOGI) has been given an average recommendation of “Hold” by the fourteen analysts that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $108.8889.

A number of research analysts have issued reports on LOGI shares. Citigroup upgraded Logitech International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $130.00 in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of Logitech International from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. JPMorgan Chase & Co. increased their target price on shares of Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Barclays lifted their price target on shares of Logitech International from $107.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th.

Logitech International Trading Down 0.1%

Shares of Logitech International stock opened at $96.60 on Friday. Logitech International has a twelve month low of $64.73 and a twelve month high of $123.01. The business’s 50 day simple moving average is $108.97 and its 200-day simple moving average is $105.59.

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

Insider Activity

In related news, Director Neela Montgomery sold 5,833 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the sale, the director owned 12,781 shares in the company, valued at approximately $1,541,516.41. This represents a 31.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Logitech International

Institutional investors and hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new position in Logitech International during the second quarter valued at approximately $27,000. Quarry LP bought a new stake in Logitech International in the third quarter worth approximately $30,000. Mather Group LLC. acquired a new position in Logitech International during the third quarter worth $34,000. Westerkirk Capital Inc. acquired a new position in shares of Logitech International during the 2nd quarter valued at about $36,000. Finally, Richardson Financial Services Inc. grew its holdings in Logitech International by 63.7% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock valued at $36,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

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.