Logitech International (NASDAQ:LOGI) Earns Outperform Rating from Wedbush

Logitech International (NASDAQ:LOGI)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research note issued to investors on Wednesday,RTT News reports. They presently have a $100.00 price target on the technology company’s stock. Wedbush’s price target points to a potential upside of 15.55% from the stock’s current price.

Several other research firms have also commented on LOGI. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $90.00 to $73.00 in a report on Friday, April 4th. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. UBS Group upgraded shares of Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Logitech International presently has a consensus rating of “Hold” and an average price target of $84.29.

Logitech International Price Performance

LOGI stock opened at $86.54 on Wednesday. The company has a market capitalization of $13.69 billion, a PE ratio of 20.31, a P/E/G ratio of 2.61 and a beta of 0.99. Logitech International has a 12 month low of $64.73 and a 12 month high of $105.65. The firm’s 50-day moving average is $79.87 and its 200 day moving average is $85.81.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts forecast that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has initiated a share repurchase program on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Logitech International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,412,308 shares of the technology company’s stock worth $543,347,000 after purchasing an additional 66,175 shares during the last quarter. Barclays PLC grew its position in Logitech International by 8.2% during the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company’s stock worth $448,409,000 after purchasing an additional 414,236 shares during the last quarter. Vontobel Holding Ltd. grew its position in Logitech International by 34.2% during the 4th 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Logitech International by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,207,416 shares of the technology company’s stock worth $355,148,000 after purchasing an additional 59,150 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Logitech International by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company’s stock worth $341,610,000 after purchasing an additional 85,278 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

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.