Logitech International (NASDAQ:LOGI) Stock Rating Lowered by Wall Street Zen

Logitech International (NASDAQ:LOGI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Monday, Wall Street Zen reports.

LOGI has been the topic of several other research reports. Wedbush cut their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a research note on Tuesday, June 30th. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Morgan Stanley cut their price objective on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings cut shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.29.

Logitech International Trading Up 0.3%

LOGI stock opened at $100.67 on Monday. The stock has a 50-day moving average price of $101.90 and a two-hundred day moving average price of $101.50. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The stock has a market cap of $14.76 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 3.66 and a beta of 1.18.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 earnings per share. On average, analysts forecast that Logitech International will post 5.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Logitech International

In related news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the transaction, the insider directly owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Logitech International by 16.5% during the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after buying an additional 129,967 shares during the last quarter. Entropy Technologies LP boosted its holdings in shares of Logitech International by 647.0% during the 1st quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock worth $1,724,000 after buying an additional 16,388 shares during the period. Amundi grew its stake in Logitech International by 51.2% in the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after buying an additional 563,564 shares during the last quarter. Groupe la Francaise acquired a new position in Logitech International in the 1st quarter valued at about $4,668,000. Finally, Renaissance Technologies LLC raised its holdings in Logitech International by 26.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock valued at $188,847,000 after acquiring an additional 435,000 shares during the period. 45.76% of the stock is owned by institutional investors.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software intended to help people connect, create, communicate and interact with digital devices. Its products are sold to consumers, businesses, educators, gamers, streamers and other professional users through retailers, online channels and business partners worldwide.

The company’s product portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, presentation devices and accessories.