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

Key Points

• Wall Street Zen downgraded Logitech International to “Hold” from “Buy.” Overall analyst sentiment is also “Hold,” with two Buy, six Hold and two Sell ratings and an average price target of $106.29.
• Logitech shares opened at $95.53, down 3.5%, below their 50-day and 200-day moving averages. The stock has traded between $83.32 and $129.66 over the past year.
• The company beat quarterly expectations, reporting $1.51 in EPS versus the $1.34 consensus and $1.22 billion in revenue, up 2.8% year over year. An insider also sold 16,265 shares, while institutional investors own 45.76% of the stock.

Logitech International (NASDAQ:LOGI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday, Wall Street Zen reports.

LOGI has been the subject of several other research reports. Barclays upped their target price on shares of Logitech International from $101.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price target 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. Wedbush reduced their price objective on Logitech International from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, October 26th. Finally, Morgan Stanley upped their price target on Logitech International from $90.00 to $94.00 and gave the company an "underweight" rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $106.29.

Logitech International Trading Down 3.5%

Shares of LOGI opened at $95.53 on Friday. The firm has a market capitalization of $14.00 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 5.12 and a beta of 1.14. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The stock's fifty day simple moving average is $101.98 and its 200 day simple moving average is $99.72.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The technology company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.21 billion. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 EPS. Sell-side analysts predict that Logitech International will post 5.24 earnings per share for the current year.

Insider Transactions at Logitech International

In related news, insider Samantha Harnett sold 16,265 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Renaissance Technologies LLC increased its position in Logitech International by 26.6% in the first quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company's stock worth $188,847,000 after buying an additional 435,000 shares during the last quarter. Amundi boosted its holdings in Logitech International by 51.2% in the 1st quarter. Amundi now owns 1,665,096 shares of the technology company's stock worth $151,724,000 after buying an additional 563,564 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Logitech International by 2,227.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company's stock worth $98,189,000 after acquiring an additional 1,000,805 shares during the period. Bank of America Corp DE raised its stake in shares of Logitech International by 16.5% during the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company's stock valued at $83,442,000 after purchasing an additional 129,967 shares during the period. Finally, Royal Bank of Canada boosted its stake in Logitech International by 75.5% in the 1st quarter. Royal Bank of Canada now owns 396,339 shares of the technology company's stock worth $36,115,000 after purchasing an additional 170,485 shares during the period. Institutional investors own 45.76% of the company's stock.

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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