Logitech International (NASDAQ:LOGI) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a research note released on Monday.

Other equities research analysts have also recently issued research reports about the company. Citigroup upped their price target on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research note on Wednesday, January 22nd. Bank of America reissued an “underperform” rating and issued a $90.00 price objective (down from $105.00) on shares of Logitech International in a research note on Friday. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Barclays upped their target price on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.88.

Logitech International Trading Down 1.4 %

NASDAQ LOGI opened at $97.54 on Monday. The business’s 50 day moving average is $93.50 and its two-hundred day moving average is $87.79. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.61 and a beta of 0.78. Logitech International has a 12-month low of $74.72 and a 12-month high of $105.65.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. Equities analysts forecast that Logitech International will post 4.21 earnings per share for the current fiscal year.

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares of the company’s stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Hedge funds have recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in Logitech International in the fourth quarter worth about $26,000. Sierra Ocean LLC acquired a new stake in shares of Logitech International during the fourth quarter worth approximately $27,000. Bessemer Group Inc. increased its stake in shares of Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock worth $27,000 after acquiring an additional 308 shares during the last quarter. Exane Asset Management acquired a new stake in Logitech International in the fourth quarter valued at approximately $32,000. Finally, Tower Research Capital LLC TRC raised its holdings in Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after buying an additional 439 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.