Logitech International (NASDAQ:LOGI) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Logitech International from “Hold” to “Buy,” although the broader analyst consensus remains “Hold,” with two Buy, six Hold and two Sell ratings and an average price target of $105.29.
• Logitech reported quarterly EPS of $1.85, exceeding the $1.26 consensus estimate, while revenue reached $1.23 billion and increased 7% year over year.
• LOGI shares opened at $101.20, near their 50-day and 200-day moving averages, while an insider sold 16,265 shares under a pre-arranged trading plan; institutional investors own 45.76% of the stock.

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

Other analysts have also recently issued research reports about the company. Morgan Stanley reduced their price target on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a research report on Wednesday, July 8th. Bank of America downgraded Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price objective for the company. in a research note on Tuesday, June 30th. Weiss Ratings lowered shares of Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 2nd. Wedbush decreased their target price 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. Finally, Barclays lowered their price target on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Logitech International currently has an average rating of "Hold" and a consensus price target of $105.29.

Logitech International Price Performance

Shares of LOGI stock opened at $101.20 on Friday. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The firm has a fifty day moving average price of $101.76 and a 200-day moving average price of $100.90. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 3.73 and a beta of 1.18.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.59. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.Logitech International's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. Equities research analysts expect that Logitech International will post 5.18 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Sequoia Financial Advisors LLC raised its position in shares of Logitech International by 8.5% during the second quarter. Sequoia Financial Advisors LLC now owns 11,155 shares of the technology company's stock valued at $1,049,000 after buying an additional 878 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Logitech International by 44.2% during the second quarter. Engineers Gate Manager LP now owns 29,739 shares of the technology company's stock worth $2,797,000 after acquiring an additional 9,119 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Logitech International during the second quarter worth $115,000. IFP Advisors Inc grew its stake in Logitech International by 163.8% during the second quarter. IFP Advisors Inc now owns 3,400 shares of the technology company's stock valued at $320,000 after acquiring an additional 2,111 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Logitech International during the second quarter valued at $227,000. Institutional investors own 45.76% of the company's stock.

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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