Logitech International (NASDAQ:LOGI) Earns “Outperform” Rating from Wedbush

Logitech International (NASDAQ:LOGI)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a note issued to investors on Wednesday,Benzinga reports. They presently have a $135.00 target price on the technology company’s stock. Wedbush’s price target indicates a potential upside of 31.18% from the stock’s current price.

Several other equities analysts have also recently commented on LOGI. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a research report on Tuesday, June 30th. Morgan Stanley lowered 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. Barclays raised their target price on Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Finally, Citigroup upped their price target on shares of Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.57.

Logitech International Stock Performance

Shares of NASDAQ:LOGI opened at $102.91 on Wednesday. Logitech International has a 52-week low of $83.32 and a 52-week high of $129.66. The business’s 50 day simple moving average is $106.04 and its two-hundred day simple moving average is $98.17. The firm has a market cap of $15.09 billion, a P/E ratio of 21.44, a PEG ratio of 4.26 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. Logitech International’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts forecast that Logitech International will post 5.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in Logitech International in the third quarter worth about $30,000. CIBC Private Wealth Group LLC grew its stake in shares of Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock worth $46,000 after buying an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after buying an additional 165 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in Logitech International by 101.5% in the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after acquiring an additional 334 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Logitech International by 911.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after acquiring an additional 611 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

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.