Logitech International SA’s (LOGI) “Buy” Rating Reiterated at Rosenblatt Securities
Rosenblatt Securities reaffirmed their buy rating on shares of Logitech International SA (NASDAQ:LOGI) in a research note published on Thursday. Rosenblatt Securities currently has a $22.75 target price on the stock.
LOGI has been the subject of several other reports. Morgan Stanley upgraded Logitech International SA from an underweight rating to an equal weight rating in a report on Wednesday, August 10th. JPMorgan Chase & Co. boosted their target price on Logitech International SA from $13.50 to $18.00 and gave the stock an underweight rating in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $18.44.
Logitech International SA (NASDAQ:LOGI) opened at 21.75 on Thursday. The company’s 50-day moving average price is $21.44 and its 200 day moving average price is $17.30. The company has a market capitalization of $3.52 billion, a PE ratio of 27.19 and a beta of 1.19. Logitech International SA has a 52 week low of $12.52 and a 52 week high of $22.42.
Logitech International SA (NASDAQ:LOGI) last posted its earnings results on Wednesday, July 27th. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.07. Logitech International SA had a return on equity of 18.58% and a net margin of 6.46%. On average, equities research analysts anticipate that Logitech International SA will post $1.08 EPS for the current year.
The company also recently disclosed a dividend, which will be paid on Tuesday, September 27th. Stockholders of record on Monday, September 26th will be given a dividend of $0.5774 per share. The ex-dividend date is Thursday, September 22nd. This is a boost from Logitech International SA’s previous dividend of $0.52. Logitech International SA’s payout ratio is currently 65.00%.
In other news, SVP Marcel Stolk sold 225,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $20.36, for a total transaction of $4,581,000.00. Following the sale, the senior vice president now directly owns 478,002 shares in the company, valued at $9,732,120.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vincent Pilette sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $19.93, for a total value of $1,993,000.00. Following the sale, the chief financial officer now owns 518,492 shares in the company, valued at $10,333,545.56. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LOGI. Schroder Investment Management Group boosted its stake in Logitech International SA by 18.0% in the second quarter. Schroder Investment Management Group now owns 6,265,394 shares of the company’s stock worth $98,993,000 after buying an additional 955,525 shares in the last quarter. Vanguard Group Inc. boosted its stake in Logitech International SA by 7.6% in the second quarter. Vanguard Group Inc. now owns 3,335,672 shares of the company’s stock worth $54,305,000 after buying an additional 236,026 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Logitech International SA by 51.4% in the first quarter. Renaissance Technologies LLC now owns 2,151,525 shares of the company’s stock worth $34,231,000 after buying an additional 730,553 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Logitech International SA by 1.5% in the second quarter. Canada Pension Plan Investment Board now owns 547,853 shares of the company’s stock worth $8,885,000 after buying an additional 8,012 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Logitech International SA during the second quarter worth about $7,650,000. Institutional investors and hedge funds own 33.78% of the company’s stock.
About Logitech International SA
Logitech International SA (Logitech) is a Switzerland-based company that, together with its subsidiaries, develops and markets hardware and software products that enable or enhance digital navigation, music and video entertainment, gaming, social networking, and audio and video communication over the Internet.
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