Logitech International (NASDAQ:LOGI) PT Raised to $113.00 at Morgan Stanley


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Logitech International (NASDAQ:LOGI) had its price target lifted by analysts at Morgan Stanley from $106.00 to $113.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target points to a potential upside of 9.01% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on Logitech International from $105.00 to $110.00 in a research note on Monday, December 21st. ValuEngine lowered Logitech International from a “hold” rating to a “sell” rating in a research report on Tuesday, November 10th. UBS Group reissued a “neutral” rating on shares of Logitech International in a research report on Wednesday, October 21st. JPMorgan Chase & Co. raised Logitech International from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 20th. Finally, AlphaValue raised Logitech International to a “sell” rating in a research report on Thursday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $99.33.

Logitech International stock opened at $103.66 on Thursday. The stock has a market cap of $17.31 billion, a P/E ratio of 26.39 and a beta of 0.87. The stock has a 50 day moving average of $93.48 and a 200-day moving average of $79.99. Logitech International has a 52 week low of $31.37 and a 52 week high of $105.85.

Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, October 19th. The technology company reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $1.33. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $841.06 million. Logitech International had a return on equity of 38.26% and a net margin of 18.31%. Equities analysts forecast that Logitech International will post 3.99 EPS for the current year.

In related news, CEO Bracken Darrell sold 41,666 shares of the stock in a transaction on Monday, January 4th. The stock was sold at an average price of $98.46, for a total value of $4,102,434.36. Also, insider Prakash Arunkundrum sold 5,000 shares of the stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $95.00, for a total value of $475,000.00. The disclosure for this sale can be found here. Insiders sold a total of 142,004 shares of company stock valued at $12,874,270 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Logitech International by 2.4% during the 1st quarter. FMR LLC now owns 292,734 shares of the technology company’s stock worth $11,474,000 after purchasing an additional 6,860 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Logitech International by 430.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the technology company’s stock worth $72,000 after purchasing an additional 886 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Logitech International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,625,282 shares of the technology company’s stock worth $301,661,000 after purchasing an additional 74,459 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Logitech International during the 2nd quarter worth about $1,139,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Logitech International during the 2nd quarter worth about $380,000. 32.71% of the stock is owned by hedge funds and other institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences. The company offers pointing devices, such as wireless mouse and trackball; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

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Analyst Recommendations for Logitech International (NASDAQ:LOGI)

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