Logitech International’s (LOGI) “Underweight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Logitech International (NASDAQ:LOGI) in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have a $89.00 target price on the technology company’s stock, down from their prior target price of $107.00.

A number of other equities research analysts also recently commented on LOGI. Zacks Research downgraded Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wedbush boosted their target price on Logitech International from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $130.00 in a report on Wednesday, October 15th. JPMorgan Chase & Co. increased their price target on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Barclays restated an “equal weight” rating and set a $98.00 price objective (down previously from $134.00) on shares of Logitech International in a report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Logitech International currently has an average rating of “Hold” and an average price target of $102.13.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $91.81 on Tuesday. Logitech International has a twelve month low of $64.73 and a twelve month high of $123.01. The firm has a 50-day moving average of $106.24 and a two-hundred day moving average of $105.64.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, topping 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 business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts predict that Logitech International will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Logitech International news, Director Neela Montgomery sold 5,833 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $120.61, for a total transaction of $703,518.13. Following the completion of the sale, the director directly owned 12,781 shares in the company, valued at approximately $1,541,516.41. This trade represents a 31.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Logitech International

Hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC purchased a new position in Logitech International during the second quarter valued at approximately $27,000. Quarry LP acquired a new stake in shares of Logitech International during the 3rd quarter valued at $30,000. Mather Group LLC. acquired a new stake in shares of Logitech International during the 3rd quarter valued at $34,000. Westerkirk Capital Inc. purchased a new position in shares of Logitech International during the 2nd quarter valued at $36,000. Finally, Richardson Financial Services Inc. increased its stake in shares of Logitech International by 63.7% in the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock worth $36,000 after acquiring an additional 128 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

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.