Logitech International (NASDAQ:LOGI) Earns “Underweight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their underweight rating on shares of Logitech International (NASDAQ:LOGI) in a research note released on Monday, MarketBeat.com reports. Morgan Stanley currently has a $75.00 target price on the technology company’s stock, down from their previous target price of $85.00.

Other equities analysts have also recently issued research reports about the company. Citigroup boosted their price target on Logitech International from $98.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Barclays upped their price target on Logitech International from $96.00 to $104.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. Wedbush reiterated a neutral rating and issued a $92.00 price objective on shares of Logitech International in a research report on Monday, March 18th. StockNews.com cut shares of Logitech International from a strong-buy rating to a buy rating in a research note on Thursday, March 14th. Finally, Berenberg Bank initiated coverage on shares of Logitech International in a research note on Thursday, March 14th. They set a buy rating and a $111.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $92.43.

Logitech International Trading Down 0.9 %

LOGI stock opened at $79.00 on Monday. The business has a 50 day simple moving average of $88.15 and a 200-day simple moving average of $85.93. The company has a market capitalization of $12.49 billion, a P/E ratio of 25.82, a PEG ratio of 1.67 and a beta of 0.74. Logitech International has a twelve month low of $53.91 and a twelve month high of $96.66.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.43. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. Research analysts predict that Logitech International will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of Logitech International stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the transaction, the chief operating officer now owns 61,056 shares in the company, valued at $5,495,040. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Samantha Harnett sold 650 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares in the company, valued at $1,002,464.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,572 shares of company stock valued at $2,207,555. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of Logitech International by 16.9% in the third quarter. CWM LLC now owns 1,127 shares of the technology company’s stock worth $78,000 after acquiring an additional 163 shares during the last quarter. Blue Trust Inc. raised its stake in Logitech International by 65.6% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in Logitech International by 2.8% in the 1st quarter. Wetherby Asset Management Inc. now owns 7,548 shares of the technology company’s stock valued at $438,000 after purchasing an additional 203 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Logitech International by 0.4% during the 4th quarter. Public Sector Pension Investment Board now owns 58,873 shares of the technology company’s stock worth $5,579,000 after purchasing an additional 231 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Logitech International by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,018 shares of the technology company’s stock valued at $223,000 after buying an additional 249 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.