Logitech International (NASDAQ:LOGI) Rating Lowered to “Hold” at Wall Street Zen

Logitech International (NASDAQ:LOGI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms also recently weighed in on LOGI. Zacks Research raised Logitech International from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Logitech International in a research note on Wednesday, October 8th. Wedbush lifted their price objective on Logitech International from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley decreased their price target on shares of Logitech International from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.22.

Logitech International Stock Performance

NASDAQ:LOGI opened at $105.26 on Friday. The firm has a 50-day moving average price of $113.64 and a two-hundred day moving average price of $104.42. Logitech International has a twelve month low of $64.73 and a twelve month high of $123.01.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.22 by $0.23. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Logitech International will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Logitech International

In related news, Director Neela Montgomery sold 5,833 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the sale, the director directly owned 12,781 shares of the company’s stock, valued at approximately $1,541,516.41. This trade represents a 31.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Logitech International

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Logitech International by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,607,500 shares of the technology company’s stock valued at $726,812,000 after buying an additional 37,126 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Logitech International by 1.4% in 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 buying an additional 59,150 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Logitech International by 7.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock valued at $297,504,000 after acquiring an additional 191,828 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Logitech International by 305.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock valued at $227,859,000 after acquiring an additional 1,570,876 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Logitech International by 91.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,701,985 shares of the technology company’s stock valued at $152,757,000 after acquiring an additional 815,280 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.