Logitech International S.A. (NASDAQ:LOGI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $102.1250.

Several research firms have recently commented on LOGI. Zacks Research downgraded Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup reduced their target price on shares of Logitech International from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of Logitech International in a report on Tuesday, January 20th. Finally, BNP Paribas Exane lowered shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price target for the company. in a research report on Thursday, January 8th.

Logitech International Stock Performance

NASDAQ:LOGI opened at $92.75 on Friday. Logitech International has a one year low of $64.73 and a one year high of $123.01. The business has a fifty day moving average price of $92.14 and a 200-day moving average price of $104.31.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $1.59 earnings per share. Logitech International’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Logitech International will post 4.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in Logitech International by 305.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock worth $227,859,000 after buying an additional 1,570,876 shares in the last quarter. Morgan Stanley lifted its position in shares of Logitech International by 152.5% in the fourth quarter. Morgan Stanley now owns 2,190,070 shares of the technology company’s stock valued at $219,489,000 after acquiring an additional 1,322,582 shares in the last quarter. Credit Agricole S A bought a new position in shares of Logitech International in the third quarter worth about $104,402,000. Norges Bank bought a new position in shares of Logitech International in the fourth quarter worth about $89,248,000. Finally, Marshall Wace LLP grew its position in shares of Logitech International by 131.2% during the fourth quarter. Marshall Wace LLP now owns 1,273,720 shares of the technology company’s stock worth $129,125,000 after purchasing an additional 722,887 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

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.