Logitech International (NASDAQ:LOGI) Downgraded to “Neutral” Rating by BNP Paribas Exane

BNP Paribas Exane cut shares of Logitech International (NASDAQ:LOGI) from an outperform rating to a neutral rating in a research report report published on Thursday, Marketbeat.com reports. They currently have $106.00 price target on the technology company’s stock.

Several other research analysts also recently commented on the company. Wedbush lifted their price objective on Logitech International from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Zacks Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Barclays boosted their price objective on Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on shares of Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.89.

Logitech International Trading Down 3.3%

Shares of NASDAQ LOGI opened at $96.38 on Thursday. Logitech International has a one year low of $64.73 and a one year high of $123.01. The firm’s 50 day simple moving average is $111.30 and its two-hundred day simple moving average is $105.30.

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

Insiders Place Their Bets

In other Logitech International news, Director Neela Montgomery sold 5,833 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $120.61, for a total transaction of $703,518.13. Following the transaction, the director owned 12,781 shares in the company, valued at approximately $1,541,516.41. This represents a 31.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in Logitech International in the second quarter worth $27,000. Quarry LP bought a new position in shares of Logitech International in the 3rd quarter worth about $30,000. Mather Group LLC. purchased a new position in Logitech International during the 3rd quarter valued at about $34,000. Westerkirk Capital Inc. bought a new stake in Logitech International during the second quarter worth about $36,000. Finally, Richardson Financial Services Inc. boosted its stake in Logitech International by 63.7% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock worth $36,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

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.