Logitech International’s (LOGI) Outperform Rating Reiterated at Wedbush

Logitech International (NASDAQ:LOGI)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $135.00 price objective on the technology company’s stock. Wedbush’s price objective suggests a potential upside of 46.52% from the company’s previous close.

Several other equities analysts have also recently weighed in on LOGI. Zacks Research cut shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Barclays reissued an “equal weight” rating and set a $98.00 target price (down previously from $134.00) on shares of Logitech International in a research report on Friday. BNP Paribas Exane cut shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price target for the company. in a research note on Thursday, January 8th. BNP Paribas lowered Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.56.

Logitech International Stock Performance

Shares of LOGI stock traded down $3.34 during trading hours on Tuesday, reaching $92.14. The company had a trading volume of 782,424 shares, compared to its average volume of 1,161,666. The business has a fifty day moving average price of $107.94 and a 200-day moving average price of $105.84. Logitech International has a one year low of $64.73 and a one year high of $123.01.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, October 28th. The technology company reported $1.45 earnings per share (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 business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Logitech International will post 4.21 earnings per share for the current year.

Insider Activity at Logitech International

In related news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $120.61, for a total transaction of $703,518.13. Following the completion of the sale, the director owned 12,781 shares of the company’s stock, valued at $1,541,516.41. This represents a 31.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Logitech International

A number of institutional investors have recently made changes to their positions in LOGI. Quarry LP purchased a new stake in Logitech International in the third quarter valued at about $30,000. Sound Income Strategies LLC acquired a new position in Logitech International during the 2nd quarter valued at approximately $27,000. Mather Group LLC. acquired a new position in shares of Logitech International in the third quarter valued at about $34,000. Westside Investment Management Inc. boosted 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 in the last quarter. Finally, Richardson Financial Services Inc. increased 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 in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.