Logitech International (NASDAQ:LOGI) Stock Rating Lowered by Wall Street Zen

Logitech International (NASDAQ:LOGI) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Weiss Ratings cut Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Barclays boosted their price objective on Logitech International from $101.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, October 28th. Morgan Stanley raised their target price on Logitech International from $90.00 to $94.00 and gave the stock an “underweight” rating in a report on Wednesday, October 28th. Finally, Wedbush dropped their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Logitech International currently has an average rating of “Hold” and an average price target of $106.29.

Logitech International Price Performance

NASDAQ:LOGI opened at $94.55 on Friday. The firm has a market capitalization of $13.86 billion, a P/E ratio of 17.04, a PEG ratio of 3.66 and a beta of 1.14. Logitech International has a 1-year low of $83.32 and a 1-year high of $129.66. The company’s fifty day moving average price is $101.95 and its 200-day moving average price is $99.71.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, October 27th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. Logitech International had a net margin of 16.36% and a return on equity of 36.54%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts anticipate that Logitech International will post 5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of Logitech International 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 completion of the transaction, the insider owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Logitech International during the third quarter worth about $410,000. Commonwealth Equity Services LLC acquired a new position in shares of Logitech International during the 3rd quarter worth about $338,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Logitech International in the 3rd quarter valued at about $41,000. ProShare Advisors LLC lifted its stake in Logitech International by 11.5% in the 3rd quarter. ProShare Advisors LLC now owns 10,497 shares of the technology company’s stock valued at $1,061,000 after buying an additional 1,081 shares in the last quarter. Finally, Modera Wealth Management LLC purchased a new position in Logitech International in the 3rd quarter valued at about $2,981,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Company Profile

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.