Logitech International (NASDAQ:LOGI) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Logitech International (NASDAQ:LOGI) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other equities analysts have also issued reports on the stock. Morgan Stanley dropped their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Bank of America downgraded shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a report on Tuesday, June 30th. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Barclays dropped their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Wedbush cut their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.14.

Logitech International Stock Performance

Logitech International stock opened at $109.66 on Friday. Logitech International has a 52 week low of $83.32 and a 52 week high of $129.66. The firm has a market capitalization of $16.08 billion, a PE ratio of 20.12, a PEG ratio of 4.08 and a beta of 1.14. The business’s 50-day simple moving average is $101.64 and its 200-day simple moving average is $103.01.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business posted $1.26 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts forecast that Logitech International will post 5.14 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Logitech International

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of Logitech International by 26.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock valued at $188,847,000 after buying an additional 435,000 shares in the last quarter. Amundi raised its position in Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after purchasing an additional 563,564 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Logitech International by 2,227.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock worth $98,189,000 after purchasing an additional 1,000,805 shares during the period. Bank of America Corp DE lifted its stake in Logitech International by 16.5% during the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after purchasing an additional 129,967 shares during the period. Finally, Royal Bank of Canada lifted its stake in Logitech International by 75.5% during the first quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock worth $36,115,000 after purchasing an additional 170,485 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.