Logitech International S.A. (NASDAQ:LOGI) Receives $109.22 Average PT from Analysts

Shares of Logitech International S.A. (NASDAQ:LOGI) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $109.2222.

LOGI has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Logitech International from $107.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Morgan Stanley cut their price target on Logitech International from $108.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Citigroup upgraded Logitech International from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $130.00 in a report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Logitech International from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd.

Logitech International Stock Up 0.3%

Shares of LOGI opened at $105.26 on Monday. The company has a 50 day simple moving average of $113.64 and a two-hundred day simple moving average of $104.65. Logitech International has a 1 year low of $64.73 and a 1 year high of $123.01.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.23. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $1.20 earnings per share. Logitech International’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts forecast that Logitech International will post 4.21 EPS for the current year.

Insider Transactions at Logitech International

In related news, Director Neela Montgomery sold 5,833 shares of Logitech International stock in a transaction on Friday, October 31st. The stock was sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the transaction, the director directly owned 12,781 shares in the company, valued at approximately $1,541,516.41. This trade represents a 31.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

Institutional Trading of Logitech International

A number of large investors have recently made changes to their positions in LOGI. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Logitech International by 305.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock valued at $227,859,000 after acquiring an additional 1,570,876 shares in the last quarter. Credit Agricole S A acquired a new stake in shares of Logitech International during the third quarter valued at $104,402,000. Assenagon Asset Management S.A. raised its position in shares of Logitech International by 91.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,701,985 shares of the technology company’s stock valued at $152,757,000 after buying an additional 815,280 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Logitech International by 585.5% during the 3rd quarter. Marshall Wace LLP now owns 550,833 shares of the technology company’s stock worth $60,330,000 after purchasing an additional 470,476 shares during the period. Finally, Norges Bank purchased a new position in Logitech International during the second quarter worth about $42,240,000. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.