Logitech International S.A. (NASDAQ:LOGI) Stock Has Consensus Price Target of $105.29

Shares of Logitech International S.A. (NASDAQ:LOGI) have earned an average recommendation of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $105.29.

Several brokerages have commented on LOGI. Barclays cut their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Morgan Stanley lowered their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. JPMorgan Chase & Co. cut their price objective on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Weiss Ratings cut shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 2nd. Finally, Wedbush decreased their target price on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th.

Logitech International Price Performance

NASDAQ:LOGI opened at $101.09 on Wednesday. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The stock’s fifty day moving average price is $101.97 and its two-hundred day moving average price is $101.38. The company has a market cap of $14.82 billion, a P/E ratio of 18.55, a P/E/G ratio of 3.69 and a beta of 1.18.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that Logitech International will post 5.24 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the transaction, the insider owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Logitech International

Several large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its stake in Logitech International by 911.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after acquiring an additional 611 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Logitech International by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after acquiring an additional 145 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after purchasing an additional 114 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Logitech International during the second quarter worth about $115,000. Finally, Westerkirk Capital Inc. increased its position in shares of Logitech International by 275.0% in the fourth quarter. Westerkirk Capital Inc. now owns 1,500 shares of the technology company’s stock worth $150,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.