Logitech International (NASDAQ:LOGI) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Logitech International to “Hold” from “Buy.” The broader analyst consensus is also “Hold,” with an average price target of $105.29.
• Recent analyst actions were mixed but generally cautious, with Morgan Stanley, Barclays, JPMorgan and Bank of America lowering targets or maintaining neutral-to-negative ratings; Wedbush remains an “Outperform.”
• Logitech reported stronger-than-expected quarterly results, including $1.85 in EPS versus a $1.26 estimate and $1.23 billion in revenue, up 7% year over year. The stock opened at $102.70, near its $101.59 50-day moving average.

Logitech International (NASDAQ:LOGI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley dropped their price target 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. Barclays reduced their price objective on shares of 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. Wedbush decreased their target price on shares of Logitech International from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Bank of America downgraded shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 target price on the stock. in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of Logitech International from $120.00 to $102.00 and set a "neutral" rating on the stock in a report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Logitech International has a consensus rating of "Hold" and an average target price of $105.29.

Logitech International Stock Up 2.9%

LOGI stock opened at $102.70 on Friday. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The firm has a market cap of $15.05 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 3.70 and a beta of 1.18. The business has a 50 day moving average of $101.59 and a 200 day moving average of $100.56.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts expect that Logitech International will post 5.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Logitech International

Several large investors have recently bought and sold shares of LOGI. Quarry LP bought a new position in Logitech International during the 3rd quarter valued at about $30,000. CIBC Private Wealth Group LLC boosted its stake in shares of Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company's stock worth $46,000 after buying an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Logitech International by 40.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company's stock worth $52,000 after buying an additional 165 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Logitech International by 911.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company's stock worth $68,000 after acquiring an additional 611 shares during the period. Finally, Fifth Third Bancorp increased its position in Logitech International by 19.1% during the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company's stock valued at $82,000 after acquiring an additional 145 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.

Logitech International Company Profile

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company's portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.

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