Morgan Stanley Issues Pessimistic Forecast for Logitech International (NASDAQ:LOGI) Stock Price

Logitech International (NASDAQ:LOGI) had its price target lowered by analysts at Morgan Stanley from $89.00 to $88.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential downside of 9.26% from the company’s previous close.

Several other brokerages also recently issued reports on LOGI. Citigroup upped their price target on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Bank of America lowered 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. UBS Group downgraded shares of Logitech International from a “buy” rating to a “neutral” rating in a report on Tuesday, March 17th. Finally, Barclays increased their price target on shares of Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $109.57.

Logitech International Price Performance

Shares of LOGI traded down $0.12 during trading hours on Wednesday, hitting $96.98. The stock had a trading volume of 491,224 shares, compared to its average volume of 1,166,073. The firm has a market capitalization of $14.22 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 4.11 and a beta of 1.17. Logitech International has a 1-year low of $83.32 and a 1-year high of $129.66. The firm has a 50 day simple moving average of $106.21 and a 200-day simple moving average of $98.35.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. Logitech International’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts predict that Logitech International will post 5.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its holdings in Logitech International by 15.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after acquiring an additional 114 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in Logitech International by 0.7% during the third quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock valued at $1,812,000 after purchasing an additional 120 shares during the last quarter. Signaturefd LLC boosted its position in Logitech International by 2.0% during the fourth quarter. Signaturefd LLC now owns 6,167 shares of the technology company’s stock worth $618,000 after purchasing an additional 122 shares during the period. Guggenheim Capital LLC increased its stake in shares of Logitech International by 1.3% in the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after purchasing an additional 126 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Logitech International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company’s stock worth $971,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

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.