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 published on Sunday,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on LOGI. Weiss Ratings cut shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. 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 research note on Wednesday, July 8th. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a research report on Tuesday, June 30th. Barclays lowered their price target on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.29.

Logitech International Stock Up 0.7%

Shares of Logitech International stock opened at $105.82 on Friday. The business has a fifty day simple moving average of $101.92 and a 200-day simple moving average of $101.16. The stock has a market cap of $15.51 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 3.88 and a beta of 1.18. Logitech International has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data 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. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts expect that Logitech International will post 5.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Logitech International

A number of large investors have recently made changes to their positions in LOGI. Bank of America Corp DE raised its stake in shares of Logitech International by 16.5% during the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after purchasing an additional 129,967 shares in the last quarter. Entropy Technologies LP grew its stake in shares of Logitech International by 647.0% in the first quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock valued at $1,724,000 after buying an additional 16,388 shares in the last quarter. Amundi grew its stake in shares of Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after buying an additional 563,564 shares in the last quarter. Groupe la Francaise acquired a new position in Logitech International during the first quarter worth $4,668,000. Finally, Royal Bank of Canada increased its holdings in Logitech International by 75.5% during the first quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock worth $36,115,000 after buying an additional 170,485 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.