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

Wedbush reissued their outperform rating on shares of Logitech International (NASDAQ:LOGI) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $135.00 target price on the technology company’s stock.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. BNP Paribas Exane cut Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price for the company. in a research note on Thursday, January 8th. Morgan Stanley reaffirmed an “underweight” rating and set a $89.00 price target (down previously from $107.00) on shares of Logitech International in a research report on Tuesday. Barclays reiterated an “equal weight” rating and set a $98.00 price objective (down previously from $134.00) on shares of Logitech International in a report on Friday, January 16th. Finally, Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $130.00 in a research note on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.89.

Logitech International Stock Down 4.5%

Shares of LOGI stock opened at $91.19 on Tuesday. The stock has a 50-day moving average of $107.36 and a 200-day moving average of $105.83. Logitech International has a one year low of $64.73 and a one year high of $123.01.

Logitech International (NASDAQ:LOGI) last issued 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 firm 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 business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. As a group, research analysts expect that Logitech International will post 4.21 EPS for the current 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 completion of the transaction, the director owned 12,781 shares of the company’s stock, valued at $1,541,516.41. This represents a 31.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Logitech International

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC lifted its stake in Logitech International by 2.0% in the fourth quarter. Signaturefd LLC now owns 6,167 shares of the technology company’s stock valued at $618,000 after acquiring an additional 122 shares during the last quarter. Banque Pictet & Cie SA raised its holdings in shares of Logitech International by 10.2% in the 4th quarter. Banque Pictet & Cie SA now owns 12,330 shares of the technology company’s stock valued at $1,269,000 after purchasing an additional 1,144 shares during the period. Compagnie Lombard Odier SCmA lifted its stake in Logitech International by 8.7% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock valued at $26,777,000 after purchasing an additional 20,866 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in Logitech International by 1.3% in the 4th quarter. J. Safra Sarasin Holding AG now owns 542,396 shares of the technology company’s stock valued at $55,826,000 after purchasing an additional 6,849 shares during the last quarter. Finally, NatWest Group plc grew its holdings in Logitech International by 173.8% during the fourth quarter. NatWest Group plc now owns 62,463 shares of the technology company’s stock worth $6,260,000 after purchasing an additional 39,650 shares during the period. 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.