Logitech International (NASDAQ:LOGI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Logitech International (NASDAQ:LOGI) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other brokerages have also weighed in on LOGI. Barclays reissued an “equal weight” rating and set a $98.00 price objective (down from $134.00) on shares of Logitech International in a report on Friday, January 16th. Weiss Ratings lowered shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Morgan Stanley reissued an “underweight” rating and set a $89.00 price objective (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. BNP Paribas Exane lowered shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a report on Thursday, January 8th. Finally, Citigroup dropped their price objective on shares of Logitech International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus target price of $106.29.

Logitech International Trading Up 2.1%

Shares of LOGI stock opened at $101.09 on Friday. The business’s fifty day simple moving average is $91.98 and its 200-day simple moving average is $101.68. The company has a market cap of $14.82 billion, a PE ratio of 21.15, a PEG ratio of 3.52 and a beta of 1.08. Logitech International has a 12-month low of $70.14 and a 12-month high of $123.01.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 earnings per share. On average, equities analysts forecast that Logitech International will post 4.21 earnings per share for the current year.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in Logitech International by 94.8% in the first quarter. SG Americas Securities LLC now owns 26,891 shares of the technology company’s stock valued at $2,450,000 after purchasing an additional 13,086 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Logitech International by 15.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock valued at $86,000 after purchasing an additional 114 shares during the last quarter. World Investment Advisors purchased a new stake in Logitech International in the fourth quarter valued at $277,000. Corient Private Wealth LLC boosted its holdings in Logitech International by 4.6% in the fourth quarter. Corient Private Wealth LLC now owns 14,264 shares of the technology company’s stock valued at $1,430,000 after purchasing an additional 623 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Logitech International by 3,428.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,364 shares of the technology company’s stock valued at $237,000 after purchasing an additional 2,297 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

About Logitech International

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.