Logitech International (NASDAQ:LOGI) Downgraded by StockNews.com

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

Several other analysts have also issued reports on the stock. Berenberg Bank assumed coverage on shares of Logitech International in a research report on Thursday, March 14th. They issued a buy rating and a $111.00 price target on the stock. JPMorgan Chase & Co. cut Logitech International from an overweight rating to a neutral rating and dropped their price target for the company from $92.00 to $85.00 in a report on Wednesday, May 1st. Citigroup increased their price objective on shares of Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Wedbush restated a neutral rating and set a $92.00 target price on shares of Logitech International in a research report on Tuesday, April 30th. Finally, Morgan Stanley restated an underweight rating and issued a $75.00 price objective (down from $85.00) on shares of Logitech International in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $91.00.

Logitech International Stock Performance

Shares of LOGI opened at $94.60 on Friday. The firm has a market cap of $14.96 billion, a PE ratio of 24.44, a PEG ratio of 2.90 and a beta of 0.80. Logitech International has a twelve month low of $59.37 and a twelve month high of $102.59. The firm’s 50 day moving average price is $94.07 and its 200 day moving average price is $90.27.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. On average, sell-side analysts anticipate that Logitech International will post 3.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Logitech International

In other Logitech International news, CFO Charles D. Boynton bought 1,225 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the transaction, the chief financial officer now directly owns 1,225 shares in the company, valued at $99,555.75. The purchase 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.

Institutional Trading of Logitech International

Hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. acquired a new stake in Logitech International in the fourth quarter worth $33,000. Global Retirement Partners LLC grew its stake in shares of Logitech International by 764.4% in the 1st quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after buying an additional 344 shares during the period. Blue Trust Inc. increased its position in Logitech International by 65.6% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after buying an additional 168 shares in the last quarter. National Bank of Canada FI raised its stake in Logitech International by 529.4% during the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after buying an additional 360 shares during the period. Finally, Mather Group LLC. bought a new position in Logitech International in the first quarter worth approximately $42,000. 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.