Morgan Stanley Reaffirms “Underweight” Rating for Logitech International (NASDAQ:LOGI)

Morgan Stanley reaffirmed their underweight rating on shares of Logitech International (NASDAQ:LOGI) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $75.00 price target on the technology company’s stock, down from their prior price target of $85.00.

Other equities research analysts have also issued reports about the company. Barclays raised their target price on Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Citigroup raised their target price on Logitech International from $98.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 4th. StockNews.com lowered Logitech International from a strong-buy rating to a buy rating in a research report on Thursday, March 14th. Berenberg Bank assumed coverage on Logitech International in a research report on Thursday, March 14th. They set a buy rating and a $111.00 target price for the company. Finally, Wedbush reaffirmed a neutral rating and set a $92.00 target price on shares of Logitech International in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Logitech International currently has an average rating of Hold and an average price target of $92.43.

Logitech International Trading Down 1.2 %

NASDAQ LOGI opened at $78.08 on Monday. The firm has a market capitalization of $12.35 billion, a P/E ratio of 25.52, a PEG ratio of 1.64 and a beta of 0.74. The business has a fifty day simple moving average of $88.02 and a 200 day simple moving average of $85.87. Logitech International has a 12 month low of $53.91 and a 12 month high of $96.66.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.43. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. As a group, sell-side analysts predict that Logitech International will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Logitech International news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Prakash Arunkundrum sold 699 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.00, for a total value of $62,910.00. Following the completion of the sale, the chief operating officer now directly owns 67,848 shares in the company, valued at approximately $6,106,320. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock worth $2,207,555 in the last quarter. 0.15% of the stock is owned by company insiders.

Institutional Trading of Logitech International

Several institutional investors and hedge funds have recently modified their holdings of the business. Claro Advisors LLC raised its holdings in shares of Logitech International by 6.2% in the 1st quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock valued at $200,000 after acquiring an additional 131 shares in the last quarter. Capital Insight Partners LLC raised its holdings in shares of Logitech International by 8.9% in the 1st quarter. Capital Insight Partners LLC now owns 44,874 shares of the technology company’s stock valued at $4,010,000 after acquiring an additional 3,685 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Logitech International in the 1st quarter valued at about $680,000. Fulton Bank N.A. raised its holdings in shares of Logitech International by 19.4% in the 1st quarter. Fulton Bank N.A. now owns 3,971 shares of the technology company’s stock valued at $355,000 after acquiring an additional 645 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Logitech International in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; 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.