Logitech International (NASDAQ:LOGI) Downgraded to Hold Rating by Zacks Research

Logitech International (NASDAQ:LOGI) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

LOGI has been the subject of several other reports. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $130.00 in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Barclays lifted their price objective on shares of Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Logitech International has an average rating of “Moderate Buy” and an average price target of $109.22.

Logitech International Price Performance

NASDAQ:LOGI opened at $102.48 on Monday. Logitech International has a fifty-two week low of $64.73 and a fifty-two week high of $123.01. The company has a 50 day simple moving average of $113.34 and a two-hundred day simple moving average of $104.89.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.23. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Logitech International will post 4.21 earnings per share for the current year.

Insider Activity at Logitech International

In other news, Director Neela Montgomery sold 5,833 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $120.61, for a total transaction of $703,518.13. Following the transaction, the director directly owned 12,781 shares of the company’s stock, valued at $1,541,516.41. This represents a 31.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Logitech International

Several hedge funds have recently bought and sold shares of LOGI. Sound Income Strategies LLC acquired a new position in Logitech International during the second quarter worth $27,000. Quarry LP bought a new stake in shares of Logitech International during the third quarter worth about $30,000. Mather Group LLC. bought a new stake in shares of Logitech International during the third quarter worth about $34,000. Westerkirk Capital Inc. acquired a new stake in shares of Logitech International in the 2nd quarter worth about $36,000. Finally, Richardson Financial Services Inc. lifted its position in Logitech International by 63.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock valued at $36,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Company Profile

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.