Logitech International (NASDAQ:LOGI) Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of Logitech International (NASDAQ:LOGI) from a strong-buy rating to a buy rating in a report published on Saturday.

Other equities research analysts have also issued reports about the company. Wedbush reissued a neutral rating and set a $92.00 price target on shares of Logitech International in a research note on Tuesday, April 30th. JPMorgan Chase & Co. downgraded Logitech International from an overweight rating to a neutral rating and decreased their target price for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. Morgan Stanley restated an underweight rating and issued a $75.00 price target (down from $85.00) on shares of Logitech International in a report on Monday, April 15th. Berenberg Bank began coverage on shares of Logitech International in a report on Thursday, March 14th. They set a buy rating and a $111.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a sell rating on shares of Logitech International in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Logitech International has an average rating of Hold and an average price target of $91.00.

Logitech International Stock Up 1.2 %

LOGI stock opened at $94.94 on Friday. Logitech International has a twelve month low of $59.37 and a twelve month high of $102.59. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80. The firm’s fifty day simple moving average is $93.75 and its two-hundred day simple moving average is $90.25.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.55 by $0.34. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. As a group, equities research analysts expect that Logitech International will post 3.85 EPS for the current year.

Insider Activity

In other Logitech International news, CFO Charles D. Boynton acquired 1,225 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $81.27 per share, with a total value of $99,555.75. Following the completion of the acquisition, the chief financial officer now directly owns 1,225 shares in the company, valued at approximately $99,555.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Strategic Global Advisors LLC bought a new stake in shares of Logitech International in the 4th quarter valued at about $238,000. BNP Paribas Financial Markets grew its holdings in Logitech International by 275.9% in the fourth quarter. BNP Paribas Financial Markets now owns 15,598 shares of the technology company’s stock worth $1,483,000 after purchasing an additional 11,449 shares during the last quarter. Dorsey Wright & Associates acquired a new position in shares of Logitech International during the fourth quarter worth $2,791,000. Vontobel Holding Ltd. lifted its holdings in shares of Logitech International by 2.3% during the 4th quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after purchasing an additional 121,060 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Logitech International by 20.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after purchasing an additional 306,948 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.