Logitech International (NASDAQ:LOGI) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Logitech International (NASDAQ:LOGI) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Morgan Stanley decreased their price objective on shares of Logitech International from $108.00 to $107.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. raised their price objective on shares of Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Barclays upped their target price on Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Logitech International currently has a consensus rating of “Moderate Buy” and an average target price of $109.22.

Logitech International Stock Performance

NASDAQ:LOGI opened at $102.48 on Monday. Logitech International has a 12-month low of $64.73 and a 12-month high of $123.01. The stock’s 50 day moving average price is $113.34 and its two-hundred day moving average price is $104.89.

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

Insider Activity at Logitech International

In other news, Director Neela Montgomery sold 5,833 shares of Logitech International stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the sale, the director directly owned 12,781 shares in the company, valued at approximately $1,541,516.41. The trade was a 31.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Large investors have recently added to or reduced their stakes in the stock. Fulton Bank N.A. raised its holdings in Logitech International by 1.5% in the 2nd quarter. Fulton Bank N.A. now owns 7,000 shares of the technology company’s stock valued at $631,000 after acquiring an additional 106 shares in the last quarter. Fifth Third Bancorp raised its stake in Logitech International by 16.6% in the third quarter. Fifth Third Bancorp now owns 751 shares of the technology company’s stock valued at $82,000 after purchasing an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Logitech International by 6.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,886 shares of the technology company’s stock valued at $207,000 after purchasing an additional 107 shares in the last quarter. NatWest Group plc lifted its position in Logitech International by 0.5% during the third quarter. NatWest Group plc now owns 22,813 shares of the technology company’s stock worth $2,502,000 after purchasing an additional 113 shares during the period. Finally, Pathstone Holdings LLC grew its stake in Logitech International by 0.7% during the third quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock worth $1,812,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

About Logitech International

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.