Loop Capital Downgrades Logitech International (NASDAQ:LOGI) to Hold

Logitech International (NASDAQ:LOGIGet Rating) was downgraded by analysts at Loop Capital from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $55.00 price target on the technology company’s stock, down from their previous price target of $110.00. Loop Capital’s price objective would indicate a potential downside of 0.70% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Logitech International from CHF 92 to CHF 84 and set a “buy” rating on the stock in a research note on Wednesday, May 4th. Morgan Stanley cut their price target on Logitech International from $60.00 to $53.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 14th. The Goldman Sachs Group raised Logitech International from a “neutral” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Monday, April 4th. TheStreet lowered Logitech International from a “b” rating to a “c+” rating in a report on Friday, April 29th. Finally, UBS Group raised Logitech International from a “neutral” rating to a “buy” rating in a report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.00.

Logitech International Trading Up 1.6 %

Logitech International stock opened at $55.39 on Wednesday. The stock has a 50 day moving average of $55.39 and a two-hundred day moving average of $66.97. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 14.53 and a beta of 0.95. Logitech International has a twelve month low of $49.70 and a twelve month high of $111.15.

Logitech International (NASDAQ:LOGIGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Logitech International had a return on equity of 29.97% and a net margin of 11.76%. During the same period in the previous year, the firm posted $1.36 earnings per share. Equities analysts predict that Logitech International will post 4.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Patrick Aebischer sold 10,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $61.36, for a total transaction of $613,600.00. Following the completion of the sale, the director now owns 12,511 shares in the company, valued at approximately $767,674.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Logitech International

Several large investors have recently added to or reduced their stakes in the company. CWM LLC acquired a new position in shares of Logitech International in the fourth quarter worth $27,000. Parkside Investments LLC bought a new stake in Logitech International during the first quarter valued at about $36,000. Covestor Ltd bought a new stake in Logitech International during the fourth quarter valued at about $43,000. EverSource Wealth Advisors LLC boosted its holdings in Logitech International by 530.1% during the first quarter. EverSource Wealth Advisors LLC now owns 523 shares of the technology company’s stock valued at $39,000 after acquiring an additional 440 shares during the period. Finally, Venture Visionary Partners LLC bought a new stake in Logitech International during the second quarter valued at about $42,000.

About Logitech International

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Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to digital and cloud experiences worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

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