Logitech International (NASDAQ:LOGI) Cut to “Neutral” at UBS Group

UBS Group downgraded shares of Logitech International (NASDAQ:LOGI) from a buy rating to a neutral rating in a report published on Tuesday morning, Marketbeat reports.

A number of other research firms have also recently weighed in on LOGI. BNP Paribas Exane downgraded Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a report on Thursday, January 8th. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of Logitech International in a research note on Tuesday, January 20th. Citigroup reduced their price target on shares of Logitech International from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. Zacks Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Morgan Stanley restated an “underweight” rating and issued a $89.00 price objective (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and an average target price of $102.13.

Logitech International Price Performance

LOGI opened at $91.72 on Tuesday. Logitech International has a 1-year low of $64.73 and a 1-year high of $123.01. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The company’s 50 day simple moving average is $91.64 and its two-hundred day simple moving average is $104.01.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, January 27th. The technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. On average, equities analysts anticipate that Logitech International will post 4.21 earnings per share for the current fiscal year.

Institutional Trading of Logitech International

A number of large investors have recently bought and sold shares of LOGI. Quarry LP purchased a new stake in Logitech International during the 3rd quarter valued at approximately $30,000. Mather Group LLC. purchased a new position in shares of Logitech International in the 3rd quarter valued at approximately $34,000. Westside Investment Management Inc. increased its holdings in shares of Logitech International by 100.0% in the third quarter. Westside Investment Management Inc. now owns 326 shares of the technology company’s stock valued at $36,000 after purchasing an additional 163 shares during the period. Richardson Financial Services Inc. raised its stake in shares of Logitech International by 63.7% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock worth $36,000 after purchasing an additional 128 shares during the last quarter. Finally, Westerkirk Capital Inc. acquired a new stake in shares of Logitech International during the second quarter worth $36,000. 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.