Logitech International (NASDAQ:LOGI) Stock Price Up 9.4% – What’s Next?

Logitech International S.A. (NASDAQ:LOGI) shares rose 9.4% on Friday . The stock traded as high as $121.20 and last traded at $122.2530. Approximately 454,094 shares traded hands during trading, a decline of 61% from the average daily volume of 1,168,051 shares. The stock had previously closed at $111.76.

Analyst Upgrades and Downgrades

LOGI has been the topic of several research reports. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Barclays upped their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 17th. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of Logitech International in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and a consensus target price of $113.67.

Logitech International Stock Performance

The stock has a market cap of $17.81 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 2.79 and a beta of 1.07. The company’s 50 day moving average price is $98.57 and its 200-day moving average price is $99.82.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, analysts forecast that Logitech International S.A. will post 5.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Logitech International

Several institutional investors have recently added to or reduced their stakes in the stock. Cozad Asset Management Inc. grew its position in Logitech International by 17.4% during the first quarter. Cozad Asset Management Inc. now owns 4,587 shares of the technology company’s stock valued at $418,000 after buying an additional 679 shares during the period. Groupe la Francaise bought a new position in Logitech International during the first quarter valued at about $4,668,000. Bank of America Corp DE grew its position in Logitech International by 16.5% during the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock valued at $83,442,000 after buying an additional 129,967 shares during the period. Amundi grew its position in Logitech International by 51.2% during the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after buying an additional 563,564 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Logitech International by 14.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the technology company’s stock valued at $226,000 after buying an additional 320 shares during the period. 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.