Logitech International (NASDAQ:LOGI) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Logitech International (NASDAQ:LOGI) from a buy rating to a strong-buy rating in a research note released on Friday morning.

Several other brokerages have also weighed in on LOGI. Citigroup lifted their target price on shares of Logitech International from $98.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Wedbush reiterated a neutral rating and set a $92.00 target price on shares of Logitech International in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a sell rating on shares of Logitech International in a research report on Tuesday, April 16th. Morgan Stanley reiterated an underweight rating and set a $75.00 target price (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. lowered shares of Logitech International from an overweight rating to a neutral rating and reduced their price target for the company from $92.00 to $85.00 in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $91.00.

Logitech International Price Performance

NASDAQ LOGI opened at $96.51 on Friday. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 2.99 and a beta of 0.80. The company’s fifty day moving average is $92.20 and its two-hundred day moving average is $90.21. Logitech International has a 52-week low of $57.77 and a 52-week high of $102.59.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $956.85 million. As a group, sell-side analysts expect that Logitech International will post 3.85 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In other news, CFO Charles D. Boynton acquired 1,225 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the acquisition, the chief financial officer now owns 1,225 shares in the company, valued at $99,555.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Claro Advisors LLC boosted its holdings in shares of Logitech International by 6.2% in the first quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock valued at $200,000 after buying an additional 131 shares during the period. Blue Trust Inc. boosted its holdings in shares of Logitech International by 65.6% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after buying an additional 168 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of Logitech International by 2.2% in the first quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company’s stock valued at $1,185,000 after buying an additional 291 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Logitech International by 4.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,594 shares of the technology company’s stock valued at $627,000 after buying an additional 297 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Logitech International by 1.6% in the first quarter. SG Americas Securities LLC now owns 19,056 shares of the technology company’s stock valued at $1,703,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.