Logitech International (NASDAQ:LOGI) Downgraded by UBS Group to Neutral

UBS Group cut shares of Logitech International (NASDAQ:LOGI) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat reports.

Other equities analysts have also issued reports about the stock. Citigroup decreased their price objective on shares of Logitech International from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Barclays reaffirmed an “equal weight” rating and issued a $98.00 price target (down from $134.00) on shares of Logitech International in a report on Friday, January 16th. Wedbush reiterated an “outperform” rating and set a $135.00 price objective on shares of Logitech International in a research note on Tuesday, January 20th. Morgan Stanley reissued an “underweight” rating and set a $89.00 price objective (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Finally, Zacks Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $102.13.

Logitech International Price Performance

NASDAQ:LOGI opened at $92.59 on Tuesday. Logitech International has a 1-year low of $64.73 and a 1-year high of $123.01. The company has a 50-day moving average of $91.93 and a 200 day moving average of $104.19. The firm has a market cap of $13.57 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 3.47 and a beta of 1.09.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 27th. The technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $1.59 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Logitech International will post 4.21 EPS for the current fiscal year.

Institutional Trading of Logitech International

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Logitech International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company’s stock worth $678,420,000 after acquiring an additional 75,256 shares during the period. Barclays PLC boosted its holdings in Logitech International by 16.0% in the fourth quarter. Barclays PLC now owns 3,275,064 shares of the technology company’s stock valued at $328,227,000 after purchasing an additional 451,357 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Logitech International by 43.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock valued at $304,151,000 after purchasing an additional 906,807 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock worth $288,430,000 after purchasing an additional 74,702 shares during the period. Finally, Morgan Stanley grew its position in Logitech International by 152.5% during the 4th quarter. Morgan Stanley now owns 2,190,070 shares of the technology company’s stock worth $219,489,000 after purchasing an additional 1,322,582 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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.