StockNews.com Lowers Logitech International (NASDAQ:LOGI) to Buy

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

Several other brokerages have also recently issued reports on LOGI. Citigroup lifted their target price 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. Deutsche Bank Aktiengesellschaft reissued a sell rating on shares of Logitech International in a report on Tuesday, April 16th. Berenberg Bank assumed coverage on Logitech International in a report on Thursday, March 14th. They set a buy rating and a $111.00 price target on the stock. JPMorgan Chase & Co. downgraded Logitech International from an overweight rating to a neutral rating and reduced their price objective for the stock from $92.00 to $85.00 in a report on Wednesday, May 1st. Finally, Morgan Stanley restated an underweight rating and set a $75.00 target price (down previously from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Logitech International currently has an average rating of Hold and an average target price of $91.00.

Logitech International Price Performance

NASDAQ:LOGI opened at $94.60 on Friday. Logitech International has a 1-year low of $59.37 and a 1-year high of $102.59. The company has a market capitalization of $14.96 billion, a PE ratio of 24.44, a P/E/G ratio of 2.90 and a beta of 0.80. 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 released its earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $956.85 million. Equities analysts anticipate that Logitech International will post 3.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Charles D. Boynton bought 1,225 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the purchase, the chief financial officer now 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 hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. purchased a new position in Logitech International in the 4th quarter worth approximately $33,000. Global Retirement Partners LLC boosted its position in shares of Logitech International by 764.4% during the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock worth $35,000 after acquiring an additional 344 shares during the last quarter. Blue Trust Inc. increased its holdings 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 acquiring an additional 168 shares during the last quarter. National Bank of Canada FI grew its position in shares of 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. bought a new stake in shares of Logitech International in the first quarter worth about $42,000. 45.76% of the stock is owned by institutional investors.

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.