Wall Street Zen Upgrades Logitech International (NASDAQ:LOGI) to “Buy”

by · The Markets Daily

Logitech International (NASDAQ:LOGI – Get Free Report) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently issued reports on LOGI. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Wedbush reduced their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley decreased their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. lowered their target price on Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Finally, Barclays lowered their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $104.14.

Read Our Latest Stock Report on Logitech International

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $109.66 on Friday. The company has a 50 day simple moving average of $101.64 and a 200 day simple moving average of $103.08. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The firm has a market cap of $16.08 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 4.08 and a beta of 1.14.

Logitech International (NASDAQ:LOGI – Get Free Report) last posted its earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $1.26 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts anticipate that Logitech International will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of the sale, the insider owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC bought a new stake in shares of Logitech International in the 3rd quarter valued at $44,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Logitech International during the third quarter worth $64,000. Fifth Third Bancorp raised its stake in Logitech International by 19.1% during the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after buying an additional 145 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after buying an additional 114 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Logitech International during the second quarter worth $115,000. Institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

(Get Free Report)

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.

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