Wall Street Zen Upgrades Logitech International (NASDAQ:LOGI) to “Buy”

Logitech International (NASDAQ:LOGI) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other research firms have also commented on LOGI. Bank of America lowered shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a research note on Tuesday, June 30th. Weiss Ratings downgraded shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 2nd. Barclays lowered their price target 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. JPMorgan Chase & Co. dropped their price target on Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Finally, Morgan Stanley decreased their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Logitech International currently has an average rating of “Hold” and an average price target of $105.29.

Logitech International Trading Up 3.9%

Shares of NASDAQ LOGI opened at $105.12 on Friday. The stock has a market cap of $15.41 billion, a P/E ratio of 19.29, a P/E/G ratio of 3.73 and a beta of 1.18. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The stock has a 50 day moving average of $101.82 and a two-hundred day moving average of $101.07.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $1.26 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts predict that Logitech International will post 5.18 earnings per share for the current year.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction dated 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 sale, the insider owned 37,097 shares of the company’s stock, valued at $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of hedge funds have recently added to or reduced their stakes in LOGI. Bank of America Corp DE increased 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 worth $83,442,000 after purchasing an additional 129,967 shares in the last quarter. Entropy Technologies LP boosted its stake in Logitech International by 647.0% in the 1st quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock worth $1,724,000 after buying an additional 16,388 shares during the last quarter. Amundi grew its holdings 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 during the period. Groupe la Francaise purchased a new stake in shares of Logitech International during the 1st quarter valued at $4,668,000. Finally, Royal Bank of Canada grew its position in Logitech International by 75.5% during the first quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock valued at $36,115,000 after acquiring an additional 170,485 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.