Brokerages Set Logitech International S.A. (NASDAQ:LOGI) PT at $91.00

Shares of Logitech International S.A. (NASDAQ:LOGI) have been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $91.00.

LOGI has been the subject of a number of research reports. Wedbush reaffirmed a “neutral” rating and issued a $92.00 price objective on shares of Logitech International in a research note on Tuesday, April 30th. StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Berenberg Bank began coverage on shares of Logitech International in a research report on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective on the stock. Finally, Citigroup raised their target price on Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th.

Insiders Place Their Bets

In other news, CFO Charles D. Boynton purchased 1,225 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the transaction, the chief financial officer now directly owns 1,225 shares of the company’s stock, valued at approximately $99,555.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Logitech International

Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Logitech International by 14.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,348 shares of the technology company’s stock worth $438,000 after purchasing an additional 807 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Logitech International in the third quarter worth approximately $1,512,000. FMR LLC grew its holdings in shares of Logitech International by 10.7% during the third quarter. FMR LLC now owns 49,033 shares of the technology company’s stock valued at $3,390,000 after buying an additional 4,721 shares during the last quarter. Mariner LLC increased its position in shares of Logitech International by 36.7% during the third quarter. Mariner LLC now owns 17,721 shares of the technology company’s stock valued at $1,222,000 after acquiring an additional 4,754 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in Logitech International in the 3rd quarter worth approximately $1,223,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Stock Performance

Logitech International stock opened at $97.63 on Thursday. Logitech International has a fifty-two week low of $55.22 and a fifty-two week high of $102.59. The stock has a market cap of $15.44 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 3.00 and a beta of 0.82. The firm’s fifty day moving average price is $90.36 and its 200-day moving average price is $90.04.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. On average, analysts predict that Logitech International will post 3.85 earnings per share for the current year.

About Logitech International

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.