Barclays Forecasts Strong Price Appreciation for Logitech International (NASDAQ:LOGI) Stock

Key Points

• Barclays raised its price target on Logitech from $98 to $105 while maintaining an "equal weight" rating, implying roughly a 1.5% upside from the prior close.
• Logitech slightly beat the quarter: EPS $1.13 versus $1.10 expected and revenue of $1.09B (up 7.4% YoY), with strong profitability metrics (net margin 14.69%, ROE 34.12%).
• Analyst coverage is mixed—2 Buy, 6 Hold, 1 Sell—resulting in an average rating of Hold and an average price target of $112.17; the stock trades around $103.46 with a $15.17B market cap and a 52-week range of $78.51–$123.01.

Logitech International (NASDAQ:LOGI - Get Free Report) had its price objective hoisted by investment analysts at Barclays from $98.00 to $105.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Barclays's price target points to a potential upside of 1.49% from the company's previous close.

Several other brokerages have also recently issued reports on LOGI. Wedbush restated an "outperform" rating and issued a $135.00 target price on shares of Logitech International in a report on Wednesday. Citigroup lowered their target price on shares of Logitech International from $130.00 to $115.00 and set a "buy" rating for the company in a report on Tuesday, January 20th. Wall Street Zen cut shares of Logitech International from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Morgan Stanley restated an "underweight" rating and issued a $89.00 target price (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Finally, UBS Group cut shares of Logitech International from a "buy" rating to a "neutral" rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $112.17.

Logitech International Stock Up 0.0%

NASDAQ LOGI traded up $0.04 on Thursday, hitting $103.46. 722,795 shares of the stock were exchanged, compared to its average volume of 1,183,180. Logitech International has a fifty-two week low of $78.51 and a fifty-two week high of $123.01. The company has a market cap of $15.17 billion, a PE ratio of 21.59, a PEG ratio of 3.68 and a beta of 1.07. The company has a 50-day moving average price of $93.85 and a 200-day moving average price of $100.79.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.12%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the business posted $0.93 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Logitech International will post 5.18 EPS for the current fiscal year.

Institutional Trading of Logitech International

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Logitech International by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company's stock valued at $678,420,000 after purchasing an additional 75,256 shares during the last quarter. Barclays PLC raised its position in Logitech International by 16.0% in the 4th quarter. Barclays PLC now owns 3,275,064 shares of the technology company's stock valued at $328,227,000 after purchasing an additional 451,357 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Logitech International by 43.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company's stock valued at $304,151,000 after purchasing an additional 906,807 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Logitech International by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company's stock valued at $288,430,000 after purchasing an additional 74,702 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Logitech International by 7.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company's stock valued at $297,504,000 after purchasing an additional 191,828 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company's product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.

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