Morgan Stanley Cuts Logitech International (NASDAQ:LOGI) Price Target to $88.00

Logitech International (NASDAQ:LOGI) had its price objective reduced by stock analysts at Morgan Stanley from $89.00 to $88.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the technology company’s stock. Morgan Stanley’s target price would indicate a potential downside of 9.26% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. 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 report on Tuesday, June 30th. Citigroup raised their target price on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.57.

Logitech International Stock Down 0.1%

Logitech International stock traded down $0.12 during trading hours on Wednesday, hitting $96.98. The stock had a trading volume of 491,224 shares, compared to its average volume of 1,166,073. The business’s 50 day simple moving average is $106.21 and its 200-day simple moving average is $98.35. Logitech International has a one year low of $83.32 and a one year high of $129.66. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 4.11 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Logitech International will post 5.16 EPS for the current fiscal year.

Institutional Trading of Logitech International

A number of institutional investors have recently bought and sold shares of LOGI. Assenagon Asset Management S.A. raised its position in shares of Logitech International by 2,227.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock worth $98,189,000 after acquiring an additional 1,000,805 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Logitech International by 49.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,625 shares of the technology company’s stock valued at $247,000 after purchasing an additional 874 shares in the last quarter. Militia Capital Management LLC acquired a new stake in Logitech International during the first quarter worth approximately $501,000. Cozad Asset Management Inc. increased its holdings in Logitech International by 17.4% in the first quarter. Cozad Asset Management Inc. now owns 4,587 shares of the technology company’s stock worth $418,000 after purchasing an additional 679 shares in the last quarter. Finally, Groupe la Francaise acquired a new position in Logitech International in the first quarter valued at approximately $4,668,000. 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.