Logitech International S.A. (NASDAQ:LOGI) Given Average Recommendation of “Hold” by Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $90.43.

LOGI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Logitech International from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $85.00 in a research note on Wednesday, May 1st. Morgan Stanley restated an “underweight” rating and issued a $75.00 price objective (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Citigroup raised their price objective on Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Finally, Wedbush restated a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research note on Tuesday.

Insider Buying and Selling

In related news, CFO Charles D. Boynton bought 1,225 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $81.27 per share, with a total value of $99,555.75. Following the completion of the acquisition, the chief financial officer now directly owns 1,225 shares in the company, valued at $99,555.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Logitech International

Several institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in Logitech International by 2,036.8% in the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,385 shares during the period. Assenagon Asset Management S.A. grew its holdings in Logitech International by 166.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock valued at $123,759,000 after purchasing an additional 798,759 shares during the period. SteelPeak Wealth LLC acquired a new stake in Logitech International in the second quarter valued at approximately $372,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Logitech International in the second quarter valued at approximately $226,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Logitech International in the second quarter valued at approximately $217,000. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Stock Performance

Logitech International stock opened at $88.92 on Monday. The stock has a 50-day moving average of $95.34 and a two-hundred day moving average of $90.15. Logitech International has a one year low of $62.73 and a one year high of $102.59. The stock has a market cap of $14.06 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.77 and a beta of 0.80.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. As a group, sell-side analysts predict that Logitech International will post 3.86 EPS for the current fiscal year.

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.