Logitech International (NASDAQ:LOGI) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Logitech International to “Buy” from “Hold,” while the broader analyst consensus remains “Hold” with an average price target of $104.14.
• Logitech reported quarterly EPS of $1.85, beating estimates of $1.26, while revenue reached $1.23 billion and increased 7% year over year.
• The stock opened at $109.66, with a market capitalization of $16.08 billion and a 52-week trading range of $83.32 to $129.66; institutional investors own 45.76% of shares.

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

A number of other analysts also recently issued reports on the stock. Weiss Ratings raised shares of Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Logitech International from $102.00 to $94.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. Barclays cut 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 report on Wednesday, July 29th. Bank of America cut Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price target for the company. in a research report on Tuesday, June 30th. Finally, Wedbush reduced their price objective on shares of Logitech International from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $104.14.

Logitech International Price Performance

LOGI opened at $109.66 on Friday. The firm has a market cap of $16.08 billion, a PE ratio of 20.12, a P/E/G ratio of 4.19 and a beta of 1.14. The stock has a 50-day moving average price of $101.64 and a 200-day moving average price of $103.01. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $1.26 EPS. Logitech International's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Logitech International will post 5.14 EPS for the current year.

Insider Buying and Selling at Logitech International

In related news, insider Samantha Harnett sold 16,265 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of the transaction, the insider owned 37,097 shares in the company, valued at $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company's stock.

Institutional Trading of Logitech International

Large investors have recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in Logitech International by 17.6% in the 3rd quarter. Signaturefd LLC now owns 8,391 shares of the technology company's stock valued at $847,000 after buying an additional 1,257 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Logitech International in the 3rd quarter worth about $211,000. Evergreen Capital Management LLC acquired a new stake in Logitech International in the 3rd quarter worth about $371,000. Vest Financial LLC increased its stake in Logitech International by 53.7% during the 3rd quarter. Vest Financial LLC now owns 21,856 shares of the technology company's stock worth $2,207,000 after buying an additional 7,635 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Logitech International during the 3rd quarter worth approximately $14,372,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

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.

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