Logitech International (NASDAQ:LOGI) Price Target Cut to $115.00 by Analysts at Citigroup

Logitech International (NASDAQ:LOGI) had its target price trimmed by Citigroup from $130.00 to $115.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Barclays restated an “equal weight” rating and issued a $98.00 price objective (down previously from $134.00) on shares of Logitech International in a research report on Friday, January 16th. BNP Paribas cut Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. increased their target price on Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $102.89.

Logitech International Price Performance

NASDAQ:LOGI opened at $91.19 on Tuesday. Logitech International has a 12-month low of $64.73 and a 12-month high of $123.01. The stock’s 50 day simple moving average is $107.36 and its 200-day simple moving average is $105.83.

Logitech International (NASDAQ:LOGI) last issued its quarterly 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. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. On average, analysts forecast that Logitech International will post 4.21 earnings per share for the current year.

Insider Activity at Logitech International

In other 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 transaction of $703,518.13. Following the completion of the transaction, the director directly owned 12,781 shares of the company’s stock, valued at $1,541,516.41. This trade represents a 31.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Logitech International by 0.6% during the third quarter. Vanguard Group Inc. now owns 6,607,500 shares of the technology company’s stock worth $726,812,000 after buying an additional 37,126 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Logitech International by 7.6% during 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 increased its position in Logitech International by 305.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock worth $227,859,000 after purchasing an additional 1,570,876 shares in the last quarter. Legal & General Group Plc raised its stake in Logitech International by 8.0% in the 3rd quarter. Legal & General Group Plc now owns 1,327,129 shares of the technology company’s stock valued at $144,749,000 after purchasing an additional 98,589 shares during the last quarter. Finally, Caisse de depot et placement du Quebec lifted its holdings in Logitech International by 26.3% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,173,769 shares of the technology company’s stock valued at $128,014,000 after purchasing an additional 244,752 shares in the last quarter. Institutional investors and hedge funds 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.