Logitech International (NASDAQ:LOGI) Downgraded to “Hold” Rating by BNP Paribas

BNP Paribas downgraded shares of Logitech International (NASDAQ:LOGI) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on LOGI. BNP Paribas Exane downgraded Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price objective for the company. in a research note on Thursday. Wedbush lifted their price target on shares of Logitech International from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Finally, Citigroup upgraded shares of Logitech International from a “neutral” rating to a “buy” rating and lifted their target price for the company from $100.00 to $130.00 in a research note on Wednesday, October 15th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and an average price target of $108.89.

Logitech International Price Performance

Shares of LOGI stock opened at $96.38 on Thursday. Logitech International has a 1 year low of $64.73 and a 1 year high of $123.01. The firm has a fifty day moving average price of $111.30 and a 200-day moving average price of $105.30.

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

Insider Buying and Selling

In other news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $120.61, for a total transaction 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 represents a 31.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Several large investors have recently modified their holdings of LOGI. Quarry LP bought a new stake in Logitech International in the third quarter worth about $30,000. Sound Income Strategies LLC bought a new position in shares of Logitech International during the second quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in shares of Logitech International in the third quarter worth approximately $34,000. Westside Investment Management Inc. lifted its stake in shares of Logitech International by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 326 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in Logitech International by 63.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock valued at $36,000 after acquiring an additional 128 shares during the period. Institutional investors 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.