Morgan Stanley Reiterates Underweight Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “underweight” rating reaffirmed by stock analysts at Morgan Stanley in a research report issued on Tuesday,Benzinga reports. They presently have a $89.00 price objective on the technology company’s stock, down from their prior price objective of $107.00. Morgan Stanley’s price objective suggests a potential downside of 6.79% from the stock’s previous close.

A number of other research analysts also recently issued reports on LOGI. Weiss Ratings restated a “buy (b-)” rating on shares of Logitech International in a report on Wednesday, October 8th. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $100.00 to $130.00 in a research note on Wednesday, October 15th. BNP Paribas Exane downgraded shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Barclays reissued an “equal weight” rating and issued a $98.00 price target (down from $134.00) on shares of Logitech International in a research note on Friday. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.89.

Logitech International Price Performance

Shares of LOGI opened at $95.48 on Tuesday. Logitech International has a twelve month low of $64.73 and a twelve month high of $123.01. The firm has a fifty day simple moving average of $107.94 and a two-hundred day simple moving average of $105.84.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.23. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 earnings per share. On average, equities research analysts predict that Logitech International will post 4.21 EPS for the current year.

Insider Transactions at Logitech International

In related news, Director Neela Montgomery sold 5,833 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $120.61, for a total transaction of $703,518.13. Following the sale, the director owned 12,781 shares of the company’s stock, valued at $1,541,516.41. The trade was a 31.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Logitech International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Pictet & Cie SA increased its position in Logitech International by 10.2% during the 4th quarter. Banque Pictet & Cie SA now owns 12,330 shares of the technology company’s stock valued at $1,269,000 after buying an additional 1,144 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Logitech International by 8.7% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock worth $26,777,000 after acquiring an additional 20,866 shares during the last quarter. J. Safra Sarasin Holding AG increased its holdings in shares of Logitech International by 1.3% during the fourth quarter. J. Safra Sarasin Holding AG now owns 542,396 shares of the technology company’s stock valued at $55,826,000 after acquiring an additional 6,849 shares in the last quarter. NatWest Group plc raised its position in shares of Logitech International by 173.8% in the 4th quarter. NatWest Group plc now owns 62,463 shares of the technology company’s stock worth $6,260,000 after purchasing an additional 39,650 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Logitech International by 1,784.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 689,908 shares of the technology company’s stock worth $71,004,000 after purchasing an additional 653,296 shares in the last quarter. 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.