Logitech International S.A. (NASDAQ:LOGI) Given Consensus Recommendation of “Hold” by Analysts

Logitech International S.A. (NASDAQ:LOGI) has earned an average rating of “Hold” from the ten analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $107.8571.

Several research analysts have commented on the company. Barclays reduced their price objective on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Citigroup increased their price target on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley cut their price target on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Wedbush decreased their price objective on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd.

Logitech International Price Performance

Shares of LOGI stock opened at $104.87 on Tuesday. The company has a market capitalization of $15.37 billion, a P/E ratio of 19.24, a P/E/G ratio of 3.88 and a beta of 1.17. The company’s 50-day simple moving average is $104.85 and its two-hundred day simple moving average is $98.98. Logitech International has a one year low of $83.32 and a one year high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.59. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, research analysts expect that Logitech International will post 5.24 EPS for the current fiscal year.

Logitech International Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 22nd will be issued a $1.36 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently modified their holdings of LOGI. Willis Investment Counsel lifted its holdings in shares of Logitech International by 40.0% during the fourth quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock worth $4,284,000 after purchasing an additional 12,221 shares during the period. QRG Capital Management Inc. increased its holdings in Logitech International by 65.4% in the 4th quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock worth $3,260,000 after buying an additional 12,864 shares during the period. Plato Investment Management Ltd increased its holdings in Logitech International by 65.7% in the 4th quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock worth $4,640,000 after buying an additional 17,796 shares during the period. Bank of America Corp DE raised its position in Logitech International by 16.5% during the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after buying an additional 129,967 shares during the last quarter. Finally, Entropy Technologies LP raised its position in Logitech International by 647.0% during the 1st quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock worth $1,724,000 after buying an additional 16,388 shares during 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.