Logitech International (LOGI) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Logitech International (NASDAQ:LOGI) from a hold rating to a buy rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other equities analysts have also recently commented on LOGI. Wedbush initiated coverage on Logitech International in a report on Monday, December 17th. They set an outperform rating and a $40.00 price target for the company. ValuEngine upgraded Logitech International from a sell rating to a hold rating in a report on Friday, December 21st. Zacks Investment Research cut Logitech International from a buy rating to a hold rating in a report on Monday, December 31st. JPMorgan Chase & Co. upgraded Logitech International from a neutral rating to an overweight rating and lifted their price target for the stock from $38.00 to $42.00 in a report on Wednesday, January 23rd. Finally, Maxim Group upgraded Logitech International from a sell rating to a hold rating and set a $31.00 price target for the company in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $45.29.

Logitech International stock opened at $41.56 on Tuesday. Logitech International has a 52 week low of $29.06 and a 52 week high of $49.96. The stock has a market cap of $6.82 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 2.49 and a beta of 1.21.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, January 21st. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.17. Logitech International had a return on equity of 26.85% and a net margin of 9.06%. The business had revenue of $864.39 million during the quarter, compared to analysts’ expectations of $854.11 million. During the same quarter last year, the company posted $0.65 earnings per share. Logitech International’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Logitech International will post 1.69 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG boosted its holdings in shares of Logitech International by 2.3% during the fourth quarter. Deutsche Bank AG now owns 4,801,446 shares of the technology company’s stock worth $150,183,000 after acquiring an additional 108,687 shares during the period. Vanguard Group Inc boosted its holdings in shares of Logitech International by 2.7% during the third quarter. Vanguard Group Inc now owns 4,110,779 shares of the technology company’s stock worth $183,833,000 after acquiring an additional 107,294 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Logitech International by 2.7% during the third quarter. Vanguard Group Inc. now owns 4,110,779 shares of the technology company’s stock worth $183,833,000 after acquiring an additional 107,294 shares during the period. Norges Bank bought a new stake in shares of Logitech International during the fourth quarter worth approximately $110,282,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Logitech International by 3.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,638,525 shares of the technology company’s stock worth $82,758,000 after acquiring an additional 86,636 shares during the period. Institutional investors and hedge funds own 38.99% of the company’s stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.

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Analyst Recommendations for Logitech International (NASDAQ:LOGI)

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