Logitech International S.A. (NASDAQ:LOGI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Logitech International S.A. (NASDAQ:LOGI) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $97.00.

LOGI has been the subject of several recent analyst reports. UBS Group raised shares of Logitech International from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 7th. Morgan Stanley upped their price objective on shares of Logitech International from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. BNP Paribas Exane raised shares of Logitech International from a “neutral” rating to an “outperform” rating and set a $109.00 price objective for the company in a research report on Tuesday, August 5th. Citigroup upped their price objective on Logitech International from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Finally, BNP Paribas upgraded Logitech International from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from $100.00 to $109.00 in a research report on Tuesday, August 5th.

Logitech International Price Performance

LOGI opened at $98.46 on Tuesday. Logitech International has a 52-week low of $64.73 and a 52-week high of $105.65. The business’s fifty day moving average is $92.48 and its 200-day moving average is $88.78.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.18. Logitech International had a net margin of 13.78% and a return on equity of 30.81%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. Logitech International’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Logitech International will post 4.21 earnings per share for the current year.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 23rd will be given a $1.543 dividend. This is a boost from Logitech International’s previous annual dividend of $1.37. This represents a yield of 140.0%. The ex-dividend date is Tuesday, September 23rd.

Hedge Funds Weigh In On Logitech International

Several large investors have recently bought and sold shares of the company. Kestra Investment Management LLC raised its position in Logitech International by 46.7% in the second quarter. Kestra Investment Management LLC now owns 5,539 shares of the technology company’s stock valued at $499,000 after purchasing an additional 1,764 shares during the last quarter. Evergreen Capital Management LLC raised its position in Logitech International by 71.5% in the second quarter. Evergreen Capital Management LLC now owns 6,184 shares of the technology company’s stock valued at $557,000 after purchasing an additional 2,578 shares during the last quarter. Corient Private Wealth LLC raised its position in Logitech International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company’s stock valued at $971,000 after purchasing an additional 126 shares during the last quarter. State of Tennessee Department of Treasury raised its position in Logitech International by 6.9% in the second quarter. State of Tennessee Department of Treasury now owns 92,971 shares of the technology company’s stock valued at $8,344,000 after purchasing an additional 6,037 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in Logitech International by 24.9% in the second quarter. Orion Porfolio Solutions LLC now owns 8,002 shares of the technology company’s stock valued at $721,000 after purchasing an additional 1,593 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.

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.