Logitech International’s (LOGI) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Logitech International (NASDAQ:LOGI) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $135.00 price target on the technology company’s stock.

LOGI has been the subject of several other reports. Barclays upped their target price on shares of Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a research report on Tuesday, June 30th. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Finally, Citigroup increased their price target on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Logitech International currently has a consensus rating of “Hold” and an average target price of $109.57.

Logitech International Stock Performance

Shares of NASDAQ:LOGI opened at $104.42 on Wednesday. The business’s 50-day simple moving average is $106.05 and its 200 day simple moving average is $98.20. The company has a market cap of $15.31 billion, a P/E ratio of 21.75, a PEG ratio of 4.31 and a beta of 1.17. Logitech International has a one year low of $83.32 and a one year high of $129.66.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the business earned $0.93 EPS. Logitech International’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts predict that Logitech International will post 5.21 earnings per share for the current year.

Logitech International Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 22nd will be issued a $1.36 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

Hedge Funds Weigh In On Logitech International

Large investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Logitech International during the third quarter valued at approximately $30,000. CIBC Private Wealth Group LLC boosted its position in Logitech International by 61.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after purchasing an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after buying an additional 165 shares during the last quarter. Richardson Financial Services Inc. increased its position in Logitech International by 101.5% in the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after buying an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Logitech International by 911.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock valued at $68,000 after buying an additional 611 shares during the last quarter. 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.