Logitech International S.A. (NASDAQ:LOGI) Receives $105.29 Consensus Target Price from Analysts

Shares of Logitech International S.A. (NASDAQ:LOGI) have received a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $105.2857.

Several equities research analysts have recently issued reports on the company. Weiss Ratings downgraded Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a research report on Tuesday, June 30th. Barclays decreased their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Morgan Stanley lowered their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Finally, Wall Street Zen raised Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th.

Hedge Funds Weigh In On Logitech International

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Logitech International by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company’s stock valued at $678,420,000 after buying an additional 75,256 shares during the last quarter. Barclays PLC grew its position in Logitech International by 16.0% during the fourth quarter. Barclays PLC now owns 3,275,064 shares of the technology company’s stock worth $328,227,000 after buying an additional 451,357 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Logitech International by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock valued at $304,151,000 after acquiring an additional 906,807 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Logitech International by 7.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock valued at $297,504,000 after acquiring an additional 191,828 shares during the period. Finally, Morgan Stanley raised its holdings in Logitech International by 152.5% in the 4th 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. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Up 0.3%

Shares of LOGI stock opened at $102.05 on Friday. Logitech International has a 12 month low of $83.32 and a 12 month high of $129.66. The business’s 50 day moving average is $101.06 and its two-hundred day moving average is $100.18. The company has a market cap of $14.96 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 3.78 and a beta of 1.18.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, equities analysts expect that Logitech International will post 5.15 EPS for the current fiscal year.

Logitech International Cuts Dividend

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

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.