Logitech International (NASDAQ:LOGI) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a report issued on Sunday,Wall Street Zen reports.

LOGI has been the topic of several other research reports. Barclays increased their price objective on Logitech International from $101.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Weiss Ratings lowered Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. JPMorgan Chase & Co. lowered their target price on Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Morgan Stanley upped their target price on Logitech International from $90.00 to $94.00 and gave the stock an “underweight” rating in a report on Wednesday, October 28th. Finally, Wedbush dropped their price target on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $106.29.

Logitech International Price Performance

Logitech International stock opened at $92.85 on Friday. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 5.00 and a beta of 1.21. The firm has a 50-day moving average of $101.87 and a two-hundred day moving average of $99.69. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, October 27th. The technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.17. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $1.45 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Logitech International will post 5.27 earnings per share for the current year.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the sale, the insider owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

A number of large investors have recently bought and sold shares of LOGI. Mirae Asset Global Investments Co. Ltd. bought a new stake in Logitech International during the 3rd quarter valued at $41,000. Strengthening Families & Communities LLC bought a new position in shares of Logitech International in the 3rd quarter worth $44,000. MassMutual Private Wealth & Trust FSB bought a new position in shares of Logitech International in the 3rd quarter worth $64,000. Fifth Third Bancorp lifted its stake in shares of Logitech International by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after purchasing an additional 145 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Logitech International by 15.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.