Logitech International S.A. (NASDAQ:LOGI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have been assigned an average recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $93.43.

A number of brokerages have recently issued reports on LOGI. Bank of America upgraded Logitech International from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Wedbush raised shares of Logitech International from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Barclays increased their price objective on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $73.00 to $92.00 in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.

Logitech International Stock Down 0.9 %

Shares of LOGI stock opened at $72.79 on Wednesday. Logitech International has a 52-week low of $64.73 and a 52-week high of $105.65. The stock has a market cap of $11.51 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The business has a 50-day simple moving average of $90.35 and a 200-day simple moving average of $86.89.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Sell-side analysts anticipate that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at Logitech International

In related 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 transaction of $28,980.00. Following the completion of the transaction, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after buying an additional 1,967,133 shares during the period. Norges Bank acquired a new position in Logitech International in the 4th quarter valued at about $156,888,000. Assenagon Asset Management S.A. increased its stake in Logitech International by 2,315.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after purchasing an additional 1,385,493 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock worth $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock valued at $61,978,000 after purchasing an additional 655,025 shares during the period. 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.