Logitech International (NASDAQ:LOGI) Earns “Sell” Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their sell rating on shares of Logitech International (NASDAQ:LOGI) in a research report report published on Tuesday morning, Marketbeat Ratings reports.

LOGI has been the topic of a number of other reports. Morgan Stanley restated an underweight rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Wedbush restated a neutral rating and set a $92.00 price target on shares of Logitech International in a research note on Monday, March 18th. StockNews.com cut shares of Logitech International from a strong-buy rating to a buy rating in a research note on Thursday, March 14th. Barclays raised their price target on shares of Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Finally, Citigroup raised their price target on shares of Logitech International from $98.00 to $100.00 and gave the company a neutral rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $92.43.

Logitech International Stock Down 1.0 %

LOGI opened at $77.31 on Tuesday. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.63 and a beta of 0.74. Logitech International has a twelve month low of $53.91 and a twelve month high of $96.66. The company’s 50-day moving average price is $87.87 and its two-hundred day moving average price is $85.93.

Logitech International (NASDAQ:LOGI) last announced 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 company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. As a group, sell-side analysts anticipate that Logitech International will post 3.44 earnings per share for the current year.

Insider Activity

In other news, COO Prakash Arunkundrum sold 23,023 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the sale, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Prakash Arunkundrum sold 23,023 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the sale, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,572 shares of company stock worth $2,207,555. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Logitech International

A number of large investors have recently added to or reduced their stakes in LOGI. PNC Financial Services Group Inc. raised its position in Logitech International by 9.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,018 shares of the technology company’s stock worth $223,000 after purchasing an additional 249 shares during the period. Natixis Advisors L.P. purchased a new position in Logitech International in the 1st quarter worth $1,064,000. BlackRock Inc. raised its position in Logitech International by 19.2% in the 1st quarter. BlackRock Inc. now owns 578,107 shares of the technology company’s stock worth $42,652,000 after purchasing an additional 93,104 shares during the period. Cibc World Market Inc. raised its position in Logitech International by 51.9% in the 1st quarter. Cibc World Market Inc. now owns 8,775 shares of the technology company’s stock worth $647,000 after purchasing an additional 3,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Logitech International by 24.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 469,184 shares of the technology company’s stock worth $34,625,000 after purchasing an additional 91,536 shares during the period. 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.