Logitech International S.A. (NASDAQ:LOGI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Logitech International S.A. (NASDAQ:LOGI) have received a consensus rating of “Hold” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $105.2857.

Several brokerages recently commented on LOGI. 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. Citigroup boosted their price objective on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a report on Tuesday, June 30th. Morgan Stanley dropped their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating for the company in a report on Thursday, August 20th.

Hedge Funds Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Logitech International during the 2nd quarter worth about $227,000. Public Employees Retirement System of Ohio acquired a new stake in Logitech International during the 2nd quarter valued at $18,281,000. Foster & Motley Inc. purchased a new stake in shares of Logitech International in the second quarter valued at $1,332,000. Plato Investment Management Ltd acquired a new stake in shares of Logitech International in the second quarter worth $3,065,000. Finally, Assenagon Asset Management S.A. raised its position in 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 buying an additional 1,000,805 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of LOGI stock opened at $99.14 on Friday. Logitech International has a 12-month low of $83.32 and a 12-month high of $129.66. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 3.64 and a beta of 1.18. The business has a 50 day simple moving average of $100.95 and a 200 day simple moving average of $100.08.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.59. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. On average, equities analysts anticipate that Logitech International will post 5.15 EPS for the current fiscal year.

Logitech International Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be issued a $1.36 dividend. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

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.