Wedbush Reaffirms Outperform Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a note issued to investors on Wednesday,Benzinga reports. They currently have a $135.00 price objective on the technology company’s stock. Wedbush’s price target would suggest a potential upside of 31.20% from the company’s previous close.

Several other equities analysts have also issued reports on LOGI. Citigroup boosted their price target on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley reduced their price objective on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Finally, Barclays increased their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $109.57.

Logitech International Trading Down 1.5%

Shares of Logitech International stock opened at $102.90 on Wednesday. The business has a 50-day moving average price of $106.09 and a two-hundred day moving average price of $98.22. Logitech International has a 1-year low of $83.32 and a 1-year high of $129.66. The company has a market cap of $15.08 billion, a P/E ratio of 21.44, a PEG ratio of 4.37 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Logitech International will post 5.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Logitech International

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings 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 buying an additional 1,585 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Logitech International by 3.3% during the second quarter. Rhumbline Advisers now owns 4,732 shares of the technology company’s stock valued at $426,000 after buying an additional 152 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after buying an additional 165 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Logitech International by 13.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock worth $160,000 after acquiring an additional 206 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of Logitech International by 1.3% in the 2nd quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after acquiring an additional 126 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.

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.