Logitech International (NASDAQ:LOGI) Price Target Raised to $110.00

Logitech International (NASDAQ:LOGI) had its target price lifted by Barclays from $101.00 to $110.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other equities research analysts have also commented on LOGI. Wall Street Zen upgraded Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. JPMorgan Chase & Co. decreased their price objective on Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a research note on Tuesday, June 30th. Weiss Ratings lowered Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Wedbush reduced their price target on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $106.29.

Logitech International Stock Down 3.5%

NASDAQ LOGI opened at $95.53 on Wednesday. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The business has a 50-day moving average price of $101.98 and a 200-day moving average price of $99.72. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 5.31 and a beta of 1.14.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, October 27th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.34 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 EPS. Research analysts expect that Logitech International will post 5.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Investors Weigh In On Logitech International

A number of institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in 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 buying an additional 114 shares in the last quarter. Fifth Third Bancorp increased its holdings in Logitech International by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Logitech International by 4.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,019 shares of the technology company’s stock valued at $364,000 after buying an additional 171 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Logitech International by 2.8% in the first quarter. Frank Rimerman Advisors LLC now owns 11,717 shares of the technology company’s stock valued at $1,068,000 after acquiring an additional 317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Logitech International by 14.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the technology company’s stock valued at $226,000 after acquiring an additional 320 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Company Profile

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.