Logitech International (NASDAQ:LOGI) Earns Equal Weight Rating from Barclays

Logitech International (NASDAQ:LOGI)‘s stock had its “equal weight” rating restated by equities research analysts at Barclays in a report issued on Friday, MarketBeat Ratings reports. They presently have a $98.00 price target on the technology company’s stock, down from their previous price target of $134.00. Barclays‘s price target would indicate a potential upside of 2.64% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on LOGI. JPMorgan Chase & Co. lifted their price objective on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $130.00 in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a research report on Wednesday, October 8th. Finally, BNP Paribas Exane cut Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price target for the company. in a research note on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.89.

Logitech International Trading Down 1.2%

NASDAQ:LOGI opened at $95.48 on Friday. Logitech International has a 1-year low of $64.73 and a 1-year high of $123.01. The company’s 50-day moving average is $108.47 and its two-hundred day moving average is $105.73.

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

Insiders Place Their Bets

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 completion of the transaction, the director owned 12,781 shares of the company’s stock, valued at approximately $1,541,516.41. The trade was a 31.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Logitech International by 61.2% during the first quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock worth $352,000 after purchasing an additional 1,585 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Logitech International during the 2nd quarter valued at $431,000. Fulton Bank N.A. increased its position in shares of Logitech International by 1.5% during the second quarter. Fulton Bank N.A. now owns 7,000 shares of the technology company’s stock worth $631,000 after acquiring an additional 106 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Logitech International by 91.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,701,985 shares of the technology company’s stock valued at $152,757,000 after purchasing an additional 815,280 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in Logitech International during the 2nd quarter valued at $210,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.