Logitech International’s (LOGI) “Underweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their underweight rating on shares of Logitech International (NASDAQ:LOGI) in a research note released on Tuesday morning, MarketBeat.com reports. The firm currently has a $89.00 price target on the technology company’s stock, down from their prior price target of $107.00.

A number of other research firms have also issued reports on LOGI. Barclays reiterated an “equal weight” rating and issued a $98.00 target price (down from $134.00) on shares of Logitech International in a report on Friday, January 16th. JPMorgan Chase & Co. lifted their price objective on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Zacks Research downgraded Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. BNP Paribas Exane lowered shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price on the stock. in a research note on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Logitech International in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $102.89.

Logitech International Price Performance

NASDAQ LOGI opened at $91.19 on Tuesday. The firm has a 50 day simple moving average of $107.36 and a 200-day simple 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 announced its earnings results on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, topping 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 firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts expect that Logitech International will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Logitech International

In other news, Director Neela Montgomery sold 5,833 shares of the company’s stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently bought and sold shares of LOGI. Fifth Third Bancorp raised its stake in shares of Logitech International by 16.6% during the third quarter. Fifth Third Bancorp now owns 751 shares of the technology company’s stock worth $82,000 after purchasing an additional 107 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Logitech International by 6.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,886 shares of the technology company’s stock worth $207,000 after buying an additional 107 shares during the last quarter. NatWest Group plc lifted its stake in shares of Logitech International by 0.5% in the 3rd quarter. NatWest Group plc now owns 22,813 shares of the technology company’s stock worth $2,502,000 after acquiring an additional 113 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of Logitech International by 0.7% in the third quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock valued at $1,812,000 after acquiring an additional 120 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Logitech International by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 11,389 shares of the technology company’s stock valued at $1,249,000 after acquiring an additional 122 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

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.