Logitech International (NASDAQ:LOGI) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a report issued on Monday,Wall Street Zen reports.

Several other equities research analysts have also commented on the stock. 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 research note on Wednesday, July 29th. Morgan Stanley decreased their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings cut Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Finally, Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $105.29.

Logitech International Stock Up 0.3%

Shares of Logitech International stock opened at $100.99 on Monday. The business has a 50 day moving average of $101.83 and a 200 day moving average of $101.56. The company has a market cap of $14.80 billion, a PE ratio of 18.53, a P/E/G ratio of 3.67 and a beta of 1.18. Logitech International has a 52 week low of $83.32 and a 52 week high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its 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 net margin of 16.28% and a return on equity of 37.30%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the company posted $1.26 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that Logitech International will post 5.24 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of the sale, the insider owned 37,097 shares in the company, valued at $3,759,780.95. This trade represents a 30.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

Institutional investors and hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in shares of Logitech International by 19.3% during the second quarter. QRG Capital Management Inc. now owns 30,309 shares of the technology company’s stock valued at $2,850,000 after purchasing an additional 4,912 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Logitech International by 3.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 139,436 shares of the technology company’s stock worth $13,112,000 after purchasing an additional 4,831 shares during the last quarter. Andra AP fonden grew its holdings in shares of Logitech International by 801.7% during the second quarter. Andra AP fonden now owns 64,111 shares of the technology company’s stock valued at $6,029,000 after buying an additional 57,001 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Logitech International by 8.5% in the second quarter. Sequoia Financial Advisors LLC now owns 11,155 shares of the technology company’s stock valued at $1,049,000 after buying an additional 878 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in Logitech International by 44.2% in the 2nd quarter. Engineers Gate Manager LP now owns 29,739 shares of the technology company’s stock worth $2,797,000 after buying an additional 9,119 shares during the period. 45.76% of the stock is owned by institutional investors.

Logitech International Company Profile

Logitech International is a technology company that designs and develops hardware and software intended to help people connect, create, communicate and interact with digital devices. Its products are sold to consumers, businesses, educators, gamers, streamers and other professional users through retailers, online channels and business partners worldwide.

The company’s product portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, presentation devices and accessories.