Logitech International (NASDAQ:LOGI) Earns Equal Weight Rating from Barclays

Logitech International (NASDAQ:LOGI)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Barclays in a research note issued on Friday, Marketbeat Ratings reports. They currently have a $98.00 price target on the technology company’s stock, down from their prior price target of $134.00. Barclays‘s price objective suggests a potential upside of 1.45% from the stock’s previous close.

LOGI has been the topic of a number of other reports. Morgan Stanley dropped their target price on Logitech International from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Wedbush raised their price objective on 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 report on Wednesday, October 8th. BNP Paribas downgraded Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Finally, Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $104.89.

Logitech International Stock Down 0.1%

NASDAQ:LOGI opened at $96.60 on Friday. The company has a 50 day moving average price of $108.97 and a 200-day moving average price of $105.59. Logitech International has a 1-year low of $64.73 and a 1-year high of $123.01.

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

Insider Activity at Logitech International

In other news, Director Neela Montgomery sold 5,833 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $120.61, for a total value of $703,518.13. Following the transaction, the director owned 12,781 shares in the company, valued at $1,541,516.41. This trade 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 through this link. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fulton Bank N.A. lifted its holdings in Logitech International by 1.5% in the 2nd quarter. Fulton Bank N.A. now owns 7,000 shares of the technology company’s stock valued at $631,000 after purchasing an additional 106 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Logitech International by 16.6% in the third quarter. Fifth Third Bancorp now owns 751 shares of the technology company’s stock valued at $82,000 after buying an additional 107 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Logitech International by 6.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,886 shares of the technology company’s stock worth $207,000 after buying an additional 107 shares in the last quarter. NatWest Group plc boosted its position in Logitech International by 0.5% during the third quarter. NatWest Group plc now owns 22,813 shares of the technology company’s stock worth $2,502,000 after acquiring an additional 113 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in Logitech International by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock valued at $1,812,000 after acquiring an additional 120 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

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.