Logitech International (NASDAQ:LOGI) Trading Down 4.9%

Logitech International S.A. (NASDAQ:LOGI)’s share price dropped 4.9% during trading on Wednesday . The company traded as low as $89.73 and last traded at $89.98. Approximately 571,213 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 451,158 shares. The stock had previously closed at $94.60.

Analysts Set New Price Targets

LOGI has been the subject of a number of research analyst reports. StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 target price (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Citigroup boosted their target price on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Berenberg Bank started coverage on Logitech International in a report on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective for the company. Finally, Wedbush reissued a “neutral” rating and set a $92.00 price objective on shares of Logitech International in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $91.00.

Logitech International Stock Performance

The business has a 50 day moving average price of $94.07 and a two-hundred day moving average price of $90.27. The stock has a market cap of $14.23 billion, a PE ratio of 23.50, a P/E/G ratio of 2.93 and a beta of 0.80.

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

Insider Transactions at Logitech International

In related news, CFO Charles D. Boynton purchased 1,225 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was purchased 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 of the company’s stock, valued at $99,555.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently made changes to their positions in LOGI. Benjamin F. Edwards & Company Inc. purchased a new stake in Logitech International during the fourth quarter valued at about $33,000. Global Retirement Partners LLC raised its position in Logitech International by 764.4% during the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after purchasing an additional 344 shares in the last quarter. Blue Trust Inc. raised its position in Logitech International by 65.6% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares in the last quarter. National Bank of Canada FI raised its position in Logitech International by 529.4% during the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after purchasing an additional 360 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in Logitech International during the first quarter valued at about $42,000. 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.