Logitech International (NASDAQ:LOGI) Stock Price Up 3.8% – Still a Buy?

Shares of Logitech International S.A. (NASDAQ:LOGI) traded up 3.8% on Tuesday. The company traded as high as $101.94 and last traded at $102.0480. Approximately 121,031 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,067,588 shares. The stock had previously closed at $98.33.

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a research note on Tuesday, June 30th. Morgan Stanley cut their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Wedbush dropped their target price 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. Finally, Barclays dropped their price objective on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.14.

Logitech International Trading Down 1.6%

The stock has a fifty day simple moving average of $101.04 and a two-hundred day simple moving average of $102.24. The firm has a market cap of $14.83 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.75 and a beta of 1.14.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.26 by $0.59. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. As a group, sell-side analysts predict that Logitech International S.A. will post 5.24 earnings per share for the current fiscal year.

Insider Transactions at Logitech International

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 transaction, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. This trade represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LOGI. Renaissance Technologies LLC increased its position in shares of Logitech International by 26.6% during the first 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 in the last quarter. Amundi grew its stake in shares of Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after acquiring an additional 563,564 shares during the period. Assenagon Asset Management S.A. lifted its position in Logitech International by 2,227.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock valued at $98,189,000 after purchasing an additional 1,000,805 shares during the period. Bank of America Corp DE grew its position in Logitech International by 16.5% in the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after purchasing an additional 129,967 shares during the period. Finally, Clark Capital Management Group Inc. lifted its holdings in shares of Logitech International by 90.3% during the 4th quarter. Clark Capital Management Group Inc. now owns 721,846 shares of the technology company’s stock valued at $72,343,000 after buying an additional 342,623 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.