Logitech International (NASDAQ:LOGI) Stock Rating Lowered by UBS Group

Logitech International (NASDAQ:LOGI) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Tuesday.

LOGI has been the topic of a number of other reports. Morgan Stanley restated an “underweight” rating and set a $89.00 price target (down from $107.00) on shares of Logitech International in a research report on Tuesday, January 20th. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of Logitech International in a research report on Tuesday, January 20th. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Citigroup decreased their target price on Logitech International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $98.00 price target (down from $134.00) on shares of Logitech International in a report on Friday, January 16th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $102.13.

Logitech International Stock Down 2.3%

NASDAQ:LOGI traded down $2.22 on Tuesday, reaching $92.46. The stock had a trading volume of 1,538,115 shares, compared to its average volume of 1,298,196. The company has a market capitalization of $13.55 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 3.40 and a beta of 1.09. Logitech International has a 1-year low of $64.73 and a 1-year high of $123.01. The stock has a fifty day moving average price of $92.04 and a 200-day moving average price of $104.27.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, January 27th. The technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned $1.59 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Logitech International will post 4.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently bought and sold shares of LOGI. Quarry LP acquired a new stake in Logitech International during the third quarter worth about $30,000. Mather Group LLC. bought a new stake in shares of Logitech International during the 3rd quarter worth approximately $34,000. Westside Investment Management Inc. lifted its holdings in shares of Logitech International by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 326 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Logitech International by 63.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock worth $36,000 after acquiring an additional 128 shares in the last quarter. Finally, Westerkirk Capital Inc. acquired a new stake in shares of Logitech International during the 2nd quarter worth approximately $36,000. 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.