Logitech International S.A. (NASDAQ:LOGI) Stock Has Consensus Target Price of $104.14 According to Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have been given an average recommendation of “Hold” by the ten analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $104.14.

LOGI has been the subject of several analyst reports. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. cut their target price on Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Morgan Stanley cut their target price on 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 decreased their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a report on Monday, September 28th.

Logitech International Trading Up 1.8%

Logitech International stock opened at $109.28 on Friday. The stock has a market cap of $16.02 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 3.90 and a beta of 1.14. The company has a fifty day simple moving average of $101.21 and a 200-day simple moving average of $102.69. Logitech International has a 12-month low of $83.32 and a 12-month high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its 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. Logitech International had a return on equity of 37.30% and a net margin of 16.28%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. Logitech International’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Logitech International will post 5.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the firm’s 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 sale, the insider owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. This trade represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB purchased a new stake in Logitech International in the third quarter valued at approximately $64,000. Fifth Third Bancorp boosted its holdings in shares of Logitech International by 19.1% in the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after acquiring an additional 145 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after acquiring an additional 114 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Logitech International during the second quarter worth approximately $115,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Logitech International during the third quarter worth approximately $117,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

About Logitech International

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.