Logitech International (NASDAQ:LOGI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Logitech International (NASDAQ:LOGI) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Wedbush reduced their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a research report on Tuesday, June 30th. JPMorgan Chase & Co. dropped their price target on Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Morgan Stanley cut their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Finally, Barclays reduced their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $104.14.

Logitech International Trading Up 0.2%

Shares of NASDAQ:LOGI opened at $109.89 on Friday. The company has a 50 day moving average of $101.80 and a 200-day moving average of $99.65. The firm has a market cap of $16.11 billion, a P/E ratio of 20.16, a P/E/G ratio of 4.08 and a beta of 1.14. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66.

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

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by company insiders.

Institutional Trading of Logitech International

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

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.