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

Logitech International S.A. (NASDAQ:LOGI) has earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.29.

Several research firms recently commented on LOGI. Barclays decreased their price objective on shares of Logitech International from $108.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Loop Capital cut their target price on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a research note on Tuesday, May 6th. Bank of America raised shares of Logitech International from an “underperform” rating to a “neutral” rating and cut their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Citigroup cut their target price on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Institutional Trading of Logitech International

Several large investors have recently bought and sold shares of LOGI. Banque Transatlantique SA acquired a new stake in Logitech International in the fourth quarter valued at approximately $26,000. Sierra Ocean LLC acquired a new stake in Logitech International in the fourth quarter valued at approximately $27,000. Bessemer Group Inc. grew its position in Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after acquiring an additional 308 shares in the last quarter. Exane Asset Management acquired a new stake in shares of Logitech International during the fourth quarter worth approximately $32,000. Finally, Quarry LP acquired a new stake in shares of Logitech International during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Price Performance

NASDAQ:LOGI opened at $83.85 on Thursday. The firm’s fifty day moving average price is $78.71 and its 200 day moving average price is $86.11. Logitech International has a 1-year low of $64.73 and a 1-year high of $105.65. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.61 and a beta of 0.96.

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

Logitech International declared that its board has approved a stock buyback plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.