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

Logitech International (NASDAQ:LOGI - Get Free Report) had its price target hoisted by research analysts at Citigroup from $85.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. Citigroup's target price suggests a potential upside of 5.74% from the stock's current price.

Several other brokerages also recently weighed in on LOGI. JPMorgan Chase & Co. lowered their price target on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Loop Capital lowered their price target on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. UBS Group raised shares of Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Barclays lowered their price target on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Wedbush reaffirmed an "outperform" rating and set a $100.00 price target on shares of Logitech International in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $87.86.

Logitech International Trading Down 0.4%

NASDAQ:LOGI traded down $0.38 on Friday, reaching $94.57. 232,049 shares of the stock traded hands, compared to its average volume of 637,842. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 19.63 and a beta of 0.96. Logitech International has a 12 month low of $64.73 and a 12 month high of $105.65. The company's fifty day simple moving average is $86.22 and its 200 day simple moving average is $87.30.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a net margin of 13.86% and a return on equity of 30.40%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. Equities analysts anticipate that Logitech International will post 4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fulton Bank N.A. raised its position in shares of Logitech International by 1.5% in the 2nd quarter. Fulton Bank N.A. now owns 7,000 shares of the technology company's stock valued at $631,000 after purchasing an additional 106 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Logitech International by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company's stock valued at $507,000 after purchasing an additional 120 shares during the period. PNC Financial Services Group Inc. lifted its position in Logitech International by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company's stock valued at $458,000 after purchasing an additional 127 shares during the period. State of Wyoming lifted its position in Logitech International by 4.2% during the first quarter. State of Wyoming now owns 3,340 shares of the technology company's stock valued at $282,000 after purchasing an additional 135 shares during the period. Finally, Freedom Investment Management Inc. lifted its position in Logitech International by 4.1% during the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company's stock valued at $284,000 after purchasing an additional 136 shares during the period. Institutional investors own 45.76% of the company's stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.

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