Logitech International (NASDAQ:LOGI) Stock Bumped Down to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded Logitech International from “Buy” to “Hold,” adding to a mixed analyst outlook. MarketBeat’s consensus rating is “Hold,” with an average price target of $105.29.
• Logitech reported quarterly EPS of $1.85, beating estimates of $1.26, while revenue reached $1.23 billion and rose 7% year over year.
• Shares opened at $101.09, near their 50-day and 200-day moving averages. An insider sold 16,265 shares, while institutional investors own approximately 45.76% of the company.

Logitech International (NASDAQ:LOGI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Monday, Wall Street Zen reports.

LOGI has been the topic of a number of other reports. Bank of America downgraded shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price objective on the stock. in a research report on Tuesday, June 30th. Barclays decreased their target price 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 dropped their price target on shares of Logitech International from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings lowered Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 2nd. Finally, Morgan Stanley lowered their target price on Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $105.29.

Logitech International Stock Performance

Shares of LOGI stock opened at $101.09 on Monday. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 3.69 and a beta of 1.18. Logitech International has a 1-year low of $83.32 and a 1-year high of $129.66. The stock's fifty day simple moving average is $101.97 and its 200-day simple moving average is $101.38.

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, topping analysts' consensus estimates of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $1.26 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Logitech International will post 5.24 EPS for the current year.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 16,265 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the transaction, the insider owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LOGI. Assenagon Asset Management S.A. increased its holdings in shares of Logitech International by 2,227.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company's stock worth $98,189,000 after purchasing an additional 1,000,805 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Logitech International by 43.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company's stock valued at $304,151,000 after buying an additional 906,807 shares during the period. Norges Bank acquired a new stake in Logitech International during the fourth quarter worth about $89,248,000. Allianz Asset Management GmbH grew its position in Logitech International by 57.4% during the fourth quarter. Allianz Asset Management GmbH now owns 1,556,342 shares of the technology company's stock worth $160,175,000 after buying an additional 567,810 shares in the last quarter. Finally, Amundi increased its stake in Logitech International by 51.2% during the first quarter. Amundi now owns 1,665,096 shares of the technology company's stock valued at $151,724,000 after acquiring an additional 563,564 shares during the period. Institutional investors and hedge funds own 45.76% of the company's stock.

About Logitech International

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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