Barclays Cuts Logitech International (NASDAQ:LOGI) Price Target to $101.00

Logitech International (NASDAQ:LOGI) had its price objective reduced by Barclays from $105.00 to $101.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other equities research analysts have also commented on the stock. Wedbush restated an “outperform” rating and set a $135.00 price objective on shares of Logitech International in a report on Wednesday, July 22nd. Morgan Stanley reduced their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Citigroup lifted their price target on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Finally, Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $107.86.

Logitech International Stock Performance

NASDAQ LOGI opened at $102.48 on Wednesday. The stock has a market cap of $15.02 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 3.73 and a beta of 1.17. The business has a 50 day simple moving average of $106.05 and a 200 day simple moving average of $98.54. Logitech International has a 52-week low of $83.32 and a 52-week high of $129.66.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results 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. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, analysts predict that Logitech International will post 5.21 EPS for the current year.

Logitech International Cuts Dividend

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

Institutional Trading of Logitech International

Several institutional investors and hedge funds have recently bought and sold shares of LOGI. Vanguard Group Inc. grew its stake 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 valued at $678,420,000 after purchasing an additional 75,256 shares in the last quarter. Barclays PLC raised its stake in shares of Logitech International by 16.0% during the 4th quarter. Barclays PLC now owns 3,275,064 shares of the technology company’s stock worth $328,227,000 after purchasing an additional 451,357 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Logitech International by 43.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock valued at $304,151,000 after buying an additional 906,807 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Logitech International by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock valued at $288,430,000 after buying an additional 74,702 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 valued at $297,504,000 after buying an additional 191,828 shares in the last quarter. Institutional investors 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.