Logitech International (NASDAQ:LOGI) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Logitech International (NASDAQ:LOGI – Free Report) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Citigroup raised their price objective on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley dropped their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a report on Wednesday, July 8th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research report on Tuesday, June 30th. Wedbush lowered their price objective on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Logitech International from $120.00 to $102.00 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $105.29.

Get Our Latest Research Report on Logitech International

Logitech International Price Performance

LOGI stock opened at $98.69 on Friday. The firm has a 50 day simple moving average of $101.14 and a two-hundred day simple moving average of $99.96. The stock has a market cap of $14.47 billion, a PE ratio of 18.11, a P/E/G ratio of 3.64 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 – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm posted $1.26 EPS. Logitech International’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts expect that Logitech International will post 5.15 EPS for the current fiscal year.

Logitech International Cuts Dividend

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

Hedge Funds Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in 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 buying an additional 75,256 shares during the period. Barclays PLC boosted its position in shares of Logitech International by 16.0% during 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its stake 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 worth $304,151,000 after purchasing an additional 906,807 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Logitech International by 7.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock worth $297,504,000 after purchasing an additional 191,828 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Logitech International by 152.5% in the fourth 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 in the last quarter. 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.

Read More