Logitech International S.A. (NASDAQ:LOGI) Receives $105.29 Consensus Price Target from Analysts

Logitech International S.A. (NASDAQ:LOGI) has received an average rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $105.2857.

A number of analysts have commented on the company. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a research report on Tuesday, June 30th. Barclays cut their price objective on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley reduced their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. JPMorgan Chase & Co. decreased their target price on Logitech International from $120.00 to $102.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Wedbush dropped their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th.

Institutional Trading of Logitech International

Several large investors have recently made changes to their positions in the business. QRG Capital Management Inc. boosted its holdings in Logitech International by 65.4% in the fourth quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock valued at $3,260,000 after purchasing an additional 12,864 shares during the last quarter. Plato Investment Management Ltd raised its stake in shares of Logitech International by 65.7% during the 4th quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock valued at $4,640,000 after buying an additional 17,796 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Logitech International by 16.5% during the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock valued at $83,442,000 after buying an additional 129,967 shares during the last quarter. Entropy Technologies LP lifted its holdings in shares of Logitech International by 647.0% in the 1st quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock valued at $1,724,000 after buying an additional 16,388 shares during the period. Finally, Amundi lifted its holdings in shares of Logitech International by 51.2% in the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after buying an additional 563,564 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Trading Up 0.7%

Shares of Logitech International stock opened at $98.69 on Friday. The firm’s 50 day simple moving average is $101.14 and its two-hundred day simple moving average is $99.96. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.64 and a beta of 1.17. 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 quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Logitech International will post 5.15 EPS for the current fiscal year.

Logitech International Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be paid a dividend of $1.36 per share. This represents a yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

Logitech International Company Profile

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.