Logitech International S.A. (NASDAQ:LOGI) Receives $107.86 Average PT from Analysts

Logitech International S.A. (NASDAQ:LOGI) has been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $107.8571.

Several research firms recently issued reports on LOGI. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Wall Street Zen cut Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. JPMorgan Chase & Co. reduced their target price on Logitech International from $123.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Citigroup boosted their target price on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Morgan Stanley dropped their price target 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.

Institutional Trading of Logitech International

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its stake in Logitech International by 61.2% in the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock valued at $352,000 after buying an additional 1,585 shares during the last quarter. Rhumbline Advisers lifted its position in Logitech International by 3.3% during the second quarter. Rhumbline Advisers now owns 4,732 shares of the technology company’s stock worth $426,000 after acquiring an additional 152 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after acquiring an additional 165 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Logitech International by 13.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock worth $160,000 after acquiring an additional 206 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in shares of Logitech International by 1.3% during the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Stock Down 2.6%

NASDAQ LOGI opened at $102.97 on Tuesday. Logitech International has a 12-month low of $83.32 and a 12-month high of $129.66. The company has a market capitalization of $15.09 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 3.86 and a beta of 1.17. The firm’s 50 day moving average is $105.60 and its 200-day moving average is $98.80.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS 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 analysts’ expectations of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. As a group, sell-side analysts expect that Logitech International will post 5.24 EPS for the current year.

Logitech International Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders 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.

About Logitech International

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.