Wedbush Cuts Logitech International (NASDAQ:LOGI) Price Target to $130.00

by · The Cerbat Gem

Logitech International (NASDAQ:LOGI – Free Report) had its target price trimmed by Wedbush from $135.00 to $130.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently commented on LOGI. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a research report on Tuesday, June 30th. Morgan Stanley lowered their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Citigroup lifted their price target on shares of Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Finally, Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. 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 company’s stock. Based on data from MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus price target of $107.86.

Check Out Our Latest Analysis on Logitech International

Logitech International Stock Up 0.9%

Shares of LOGI opened at $102.48 on Wednesday. The company has a market capitalization of $15.02 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.73 and a beta of 1.17. The firm has a 50 day moving average of $106.05 and a 200 day moving average of $98.54. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66.

Logitech International (NASDAQ:LOGI – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.59. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. On average, sell-side analysts expect that Logitech International will post 5.21 EPS for the current year.

Logitech International Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors 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 yield of 126.0%.

Institutional Trading of Logitech International

Several hedge funds have recently bought and sold shares of LOGI. Compagnie Lombard Odier SCmA increased its position in shares of Logitech International by 8.7% during 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. Willis Investment Counsel raised its holdings in Logitech International by 40.0% during the 4th quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock valued at $4,284,000 after buying an additional 12,221 shares during the period. QRG Capital Management Inc. lifted its position in Logitech International by 65.4% in the fourth quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock worth $3,260,000 after buying an additional 12,864 shares during the last quarter. Plato Investment Management Ltd lifted its position in Logitech International by 65.7% in the fourth quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock worth $4,640,000 after buying an additional 17,796 shares during the last quarter. Finally, Entropy Technologies LP increased its position in Logitech International by 647.0% during the first quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock valued at $1,724,000 after acquiring an additional 16,388 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

(Get Free Report)

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.

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