Logitech International (NASDAQ:LOGI) Rating Lowered to “Hold” at Zacks Research

Logitech International (NASDAQ:LOGI) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Logitech International in a research report on Wednesday, October 8th. Wedbush increased their price objective on Logitech International from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Barclays lifted their price objective on Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Logitech International presently has an average rating of “Moderate Buy” and a consensus target price of $109.22.

Logitech International Stock Performance

Shares of LOGI stock opened at $102.48 on Monday. The company has a 50 day moving average of $113.34 and a 200-day moving average of $104.89. Logitech International has a 12-month low of $64.73 and a 12-month high of $123.01.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.22 by $0.23. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, sell-side analysts forecast that Logitech International will post 4.21 EPS for the current year.

Insider Buying and Selling at Logitech International

In other news, Director Neela Montgomery sold 5,833 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the sale, the director owned 12,781 shares of the company’s stock, valued at approximately $1,541,516.41. This represents a 31.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in shares of Logitech International in the 3rd quarter valued at about $1,678,000. Polar Asset Management Partners Inc. purchased a new position in shares of Logitech International in the third quarter worth $208,000. First Affirmative Financial Network bought a new stake in Logitech International during the 3rd quarter valued at $218,000. Armistice Capital LLC purchased a new stake in Logitech International during the 3rd quarter valued at $299,000. Finally, PDT Partners LLC increased its position in shares of Logitech International by 89.3% in the third quarter. PDT Partners LLC now owns 255,433 shares of the technology company’s stock valued at $27,911,000 after acquiring an additional 120,463 shares during the period. 45.76% of the stock is owned by institutional investors.

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.