Logitech International (NASDAQ:LOGI) Price Target Cut to $103.00 by Analysts at Barclays

Logitech International (NASDAQ:LOGI) had its target price reduced by Barclays from $105.00 to $103.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other analysts have also commented on LOGI. Wedbush reissued a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research report on Tuesday, July 16th. Loop Capital boosted their price objective on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Finally, StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. 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.com, the company presently has a consensus rating of “Hold” and an average target price of $94.00.

Logitech International Stock Performance

Shares of LOGI opened at $80.44 on Wednesday. Logitech International has a twelve month low of $74.00 and a twelve month high of $102.59. The firm’s 50 day moving average price is $87.55 and its two-hundred day moving average price is $89.31. The firm has a market cap of $12.72 billion, a P/E ratio of 20.79, a PEG ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, sell-side analysts anticipate that Logitech International will post 3.96 earnings per share for the current fiscal year.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th were issued a dividend of $1.3687 per share. This represents a yield of 1.4%. This is an increase from Logitech International’s previous annual dividend of $1.19. The ex-dividend date was Tuesday, September 24th. Logitech International’s payout ratio is presently 13.49%.

Hedge Funds Weigh In On Logitech International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of Logitech International by 7.4% in the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after purchasing an additional 457,630 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Logitech International by 8.0% in the second quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock valued at $157,324,000 after purchasing an additional 120,000 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Logitech International by 166.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock valued at $123,759,000 after purchasing an additional 798,759 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Logitech International by 6.7% in the second quarter. Jupiter Asset Management Ltd. now owns 601,826 shares of the technology company’s stock valued at $58,214,000 after purchasing an additional 37,852 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Logitech International by 86.4% in the first quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company’s stock valued at $49,349,000 after purchasing an additional 255,828 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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.