Logitech International (NASDAQ:LOGI) Stock Price Up 9.4% – What’s Next?

Logitech International S.A. (NASDAQ:LOGI)’s stock price traded up 9.4% on Friday . The company traded as high as $121.20 and last traded at $122.2530. 454,094 shares changed hands during trading, a decline of 61% from the average session volume of 1,168,051 shares. The stock had previously closed at $111.76.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays increased their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $135.00 target price on shares of Logitech International in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Citigroup increased their target price on shares of Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.67.

Logitech International Price Performance

The stock has a market capitalization of $17.81 billion, a PE ratio of 25.34, a P/E/G ratio of 2.79 and a beta of 1.07. The business’s fifty day moving average price is $98.57 and its 200-day moving average price is $99.82.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that Logitech International S.A. will post 5.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cozad Asset Management Inc. lifted its holdings in shares of 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 buying an additional 679 shares in the last quarter. Groupe la Francaise purchased a new stake in Logitech International in the first quarter valued at approximately $4,668,000. Bank of America Corp DE raised its stake in Logitech International by 16.5% in the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock valued at $83,442,000 after purchasing an additional 129,967 shares in the last quarter. Amundi raised its stake in Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after purchasing an additional 563,564 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Logitech International by 14.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the technology company’s stock valued at $226,000 after purchasing an additional 320 shares in 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.