Brokerages Set Logitech International S.A. (NASDAQ:LOGI) Target Price at $109.57

Shares of Logitech International S.A. (NASDAQ:LOGI) have earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $109.5714.

A number of brokerages have recently commented on LOGI. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a research note on Wednesday, May 6th. Morgan Stanley reduced their price objective on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Citigroup boosted their price objective on shares of Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Finally, UBS Group cut shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th.

Hedge Funds Weigh In On Logitech International

Several institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in Logitech International during the 3rd quarter worth about $30,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Logitech International by 61.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after purchasing an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Logitech International by 40.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after purchasing an additional 165 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Logitech International by 101.5% during the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after buying an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Logitech International by 911.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after buying an additional 611 shares during the period. Institutional investors own 45.76% of the company’s stock.

Logitech International Stock Down 1.6%

LOGI stock opened at $100.59 on Friday. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The company has a market cap of $14.75 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 4.28 and a beta of 1.17. The business’s fifty day moving average is $106.42 and its 200-day moving average is $98.23.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. Research analysts anticipate that Logitech International will post 5.21 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

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

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.