Logitech International (NASDAQ:LOGI) Cut to Neutral at BNP Paribas Exane

BNP Paribas Exane cut shares of Logitech International (NASDAQ:LOGI) from an outperform rating to a neutral rating in a report published on Thursday, MarketBeat reports. BNP Paribas Exane currently has $106.00 target price on the technology company’s stock.

Several other research analysts have also recently weighed in on LOGI. Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a research report on Wednesday, October 8th. Wedbush lifted their target price on shares of Logitech International from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Zacks Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Barclays increased their price target on shares of Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley reduced their price target on shares of Logitech International from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Logitech International presently has a consensus rating of “Hold” and a consensus price target of $108.89.

Logitech International Trading Down 1.3%

NASDAQ:LOGI opened at $95.10 on Thursday. The stock has a 50 day moving average of $110.79 and a two-hundred day moving average of $105.49. Logitech International has a 12 month low of $64.73 and a 12 month high of $123.01.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.23. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $1.20 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Logitech International will post 4.21 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Neela Montgomery sold 5,833 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the transaction, the director directly owned 12,781 shares in the company, valued at approximately $1,541,516.41. This represents a 31.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Logitech International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in Logitech International during the second quarter worth $27,000. Quarry LP purchased a new stake in shares of Logitech International in the 3rd quarter valued at $30,000. Mather Group LLC. purchased a new stake in shares of Logitech International in the 3rd quarter valued at $34,000. Westerkirk Capital Inc. acquired a new position in Logitech International during the 2nd quarter worth about $36,000. Finally, Richardson Financial Services Inc. boosted its holdings in Logitech International by 63.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock valued at $36,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

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.