Logitech International S.A. (NASDAQ:LOGI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have earned a consensus recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $91.00.

Several research firms have commented on LOGI. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. lowered shares of Logitech International from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $85.00 in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Citigroup boosted their price target on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $92.00 price target on shares of Logitech International in a report on Tuesday, April 30th.

Insiders Place Their Bets

In other news, CFO Charles D. Boynton acquired 1,225 shares of Logitech International stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now owns 1,225 shares of the company’s stock, valued at $99,555.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

Institutional Trading of Logitech International

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in Logitech International by 14.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,348 shares of the technology company’s stock valued at $438,000 after purchasing an additional 807 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Logitech International in the third quarter valued at approximately $1,512,000. FMR LLC lifted its stake in Logitech International by 10.7% in 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 period. Mariner LLC lifted its stake in Logitech International by 36.7% in the third quarter. Mariner LLC now owns 17,721 shares of the technology company’s stock valued at $1,222,000 after buying an additional 4,754 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of Logitech International during the third quarter worth approximately $1,223,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Trading Down 0.1 %

Shares of LOGI stock opened at $99.05 on Thursday. Logitech International has a 12-month low of $53.91 and a 12-month high of $102.59. The stock’s 50-day moving average price is $89.66 and its 200-day moving average price is $89.81. The stock has a market capitalization of $15.66 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 3.06 and a beta of 0.82.

Logitech International (NASDAQ:LOGI) last announced 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 return on equity of 27.46% and a net margin of 14.24%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. As a group, research analysts predict that Logitech International will post 3.85 EPS for the current fiscal 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.