Logitech International S.A. (NASDAQ:LOGI) Stock Has Average Price Target of $104.14 According to Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have earned an average rating of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $104.14.

Several brokerages have recently issued reports on LOGI. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Bank of America cut 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. Wedbush dropped their price objective on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley cut their price objective on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, September 28th.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the transaction, the insider owned 37,097 shares in the company, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in shares of Logitech International by 26.6% in the first quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock worth $188,847,000 after acquiring an additional 435,000 shares in the last quarter. Amundi lifted its holdings in shares of Logitech International by 51.2% during the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after purchasing an additional 563,564 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Logitech International by 2,227.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock valued at $98,189,000 after purchasing an additional 1,000,805 shares during the period. Bank of America Corp DE increased its stake in Logitech International by 16.5% during the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after purchasing an additional 129,967 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Logitech International by 75.5% during the 1st quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock worth $36,115,000 after purchasing an additional 170,485 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Logitech International Stock Performance

NASDAQ LOGI opened at $112.52 on Friday. The stock has a market capitalization of $16.49 billion, a P/E ratio of 20.65, a P/E/G ratio of 4.10 and a beta of 1.14. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The business’s fifty day moving average is $101.51 and its two-hundred day moving average is $102.96.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.59. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.26 EPS. On average, research analysts forecast that Logitech International will post 5.14 earnings per share for the current year.

About Logitech International

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.