Logitech International (NASDAQ:LOGI) Receives “Underweight” Rating from Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of Logitech International (NASDAQ:LOGI) in a report issued on Monday morning, Marketbeat reports. Morgan Stanley currently has a $75.00 target price on the technology company’s stock, down from their previous target price of $85.00.

A number of other equities analysts also recently issued reports on the stock. Wedbush reissued a neutral rating and issued a $92.00 price objective on shares of Logitech International in a report on Monday, March 18th. Berenberg Bank started coverage on shares of Logitech International in a report on Thursday, March 14th. They issued a buy rating and a $111.00 price objective on the stock. Citigroup raised their price objective on shares of Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 4th. StockNews.com downgraded shares of Logitech International from a strong-buy rating to a buy rating in a report on Thursday, March 14th. Finally, Barclays lifted their price target on shares of Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Logitech International has a consensus rating of Hold and an average target price of $92.43.

Logitech International Stock Down 6.4 %

Shares of NASDAQ LOGI opened at $81.26 on Monday. The firm’s 50-day moving average price is $88.35 and its 200-day moving average price is $85.90. The company has a market cap of $12.85 billion, a PE ratio of 26.56, a PEG ratio of 1.79 and a beta of 0.74. Logitech International has a 52-week low of $53.91 and a 52-week high of $96.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.43. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. As a group, equities research analysts anticipate that Logitech International will post 3.44 EPS for the current fiscal year.

Insider Activity

In other news, COO Prakash Arunkundrum sold 23,023 shares of Logitech International stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the sale, the chief operating officer now owns 61,056 shares in the company, valued at $5,495,040. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now owns 11,910 shares in the company, valued at $1,002,464.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Prakash Arunkundrum sold 23,023 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the sale, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $2,207,555 over the last quarter. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Logitech International by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after purchasing an additional 84,179 shares during the last quarter. Vontobel Holding Ltd. increased its position in Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after purchasing an additional 121,060 shares during the last quarter. Norges Bank bought a new stake in Logitech International in the fourth quarter worth $238,096,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Logitech International by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after purchasing an additional 760,263 shares during the last quarter. Finally, Invesco Ltd. increased its position in Logitech International by 24.0% during the first quarter. Invesco Ltd. now owns 2,409,946 shares of the technology company’s stock valued at $177,807,000 after acquiring an additional 466,632 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming 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.