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

Shares of Logitech International S.A. (NASDAQ:LOGI) have been assigned an average recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $109.5714.

LOGI has been the subject of several recent research reports. UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 17th. Bank of America downgraded shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a research note on Tuesday, June 30th. 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 report on Thursday, May 7th. Citigroup raised their price target on shares of Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd.

Institutional Investors Weigh In On Logitech International

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Logitech International by 61.2% in the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock valued at $352,000 after buying an additional 1,585 shares during the period. Rhumbline Advisers increased its stake 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 worth $426,000 after buying an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $52,000 after buying an additional 165 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Logitech International by 13.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock valued at $160,000 after acquiring an additional 206 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in Logitech International by 1.3% in the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock valued at $918,000 after acquiring an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 3.9%

LOGI opened at $101.67 on Friday. The stock’s 50-day moving average price is $106.37 and its 200 day moving average price is $98.28. Logitech International has a 12-month low of $83.32 and a 12-month high of $129.66. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 4.13 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.Logitech International’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. On average, research analysts forecast that Logitech International will post 5.16 earnings per share for the current year.

Logitech International Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be issued a $1.36 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a yield of 126.0%.

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.