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

Wall Street Zen cut shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a research note issued to investors on Saturday.

A number of other analysts have also recently commented on the stock. Citigroup upgraded shares of Logitech International from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $130.00 in a research note on Wednesday, October 15th. Wedbush upped their target price on shares of Logitech International from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Barclays raised their target price on shares of Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Morgan Stanley lowered their price target on Logitech International from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. upped their price objective on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.22.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $102.90 on Friday. The stock has a 50 day moving average price of $113.50 and a 200 day moving average price of $104.76. Logitech International has a 52 week low of $64.73 and a 52 week high of $123.01.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.23. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. As a group, sell-side analysts predict that Logitech International will post 4.21 earnings per share for the current year.

Insider Transactions at Logitech International

In related news, Director Neela Montgomery sold 5,833 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the sale, the director directly owned 12,781 shares in the company, valued at $1,541,516.41. The trade was a 31.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Logitech International

Institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC acquired a new position in shares of Logitech International in the second quarter valued at about $27,000. Quarry LP bought a new stake in Logitech International in the 3rd quarter valued at about $30,000. Mather Group LLC. acquired a new position in shares of Logitech International during the 3rd quarter worth approximately $34,000. Westerkirk Capital Inc. acquired a new position in shares of Logitech International during the 2nd quarter worth approximately $36,000. Finally, Richardson Financial Services Inc. increased its holdings in shares of Logitech International by 63.7% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock worth $36,000 after purchasing an additional 128 shares during the period. Institutional investors own 45.76% of the company’s stock.

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.