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

Wedbush reaffirmed their outperform rating on shares of Logitech International (NASDAQ:LOGI) in a report released on Tuesday,Benzinga reports. The firm currently has a $135.00 target price on the technology company’s stock.

Other equities analysts have also issued reports about the company. BNP Paribas Exane lowered Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price on the stock. in a report on Thursday, January 8th. Morgan Stanley reissued an “underweight” rating and issued a $89.00 price objective (down from $107.00) on shares of Logitech International in a research note on Tuesday. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $100.00 to $130.00 in a research report on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price target on shares of Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Barclays restated an “equal weight” rating and issued a $98.00 price objective (down from $134.00) on shares of Logitech International in a research note on Friday, January 16th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.13.

Logitech International Trading Down 0.1%

NASDAQ LOGI opened at $91.81 on Tuesday. Logitech International has a 12-month low of $64.73 and a 12-month high of $123.01. The company has a 50 day moving average price of $106.24 and a two-hundred day moving average price of $105.64.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, topping 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 in the prior year, the business posted $1.20 EPS. Logitech International’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts anticipate that Logitech International will post 4.21 EPS for the current fiscal year.

Insider Activity

In other news, Director Neela Montgomery sold 5,833 shares of the firm’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 sale, the director owned 12,781 shares in the company, valued at approximately $1,541,516.41. This trade represents a 31.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Logitech International

Several hedge funds and other institutional investors have recently bought and sold shares of LOGI. Vanguard Group Inc. increased its holdings in shares of Logitech International by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,607,500 shares of the technology company’s stock worth $726,812,000 after purchasing an additional 37,126 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 7.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock worth $297,504,000 after buying an additional 191,828 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Logitech International by 305.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock valued at $227,859,000 after acquiring an additional 1,570,876 shares during the period. Legal & General Group Plc raised its holdings in Logitech International by 8.0% in the 3rd quarter. Legal & General Group Plc now owns 1,327,129 shares of the technology company’s stock valued at $144,749,000 after acquiring an additional 98,589 shares in the last quarter. Finally, Caisse de depot et placement du Quebec lifted its position in shares of Logitech International by 26.3% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,173,769 shares of the technology company’s stock worth $128,014,000 after acquiring an additional 244,752 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

About Logitech International

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.