Logitech International S.A. (NASDAQ:LOGI) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Logitech, with five hold, three buy and two sell ratings. The average 12-month price target is $105.29.
• Recent analyst actions were mixed: Bank of America and Morgan Stanley downgraded or maintained negative views, while Citigroup raised its target to $124 and retained a buy rating.
• Logitech exceeded quarterly expectations, reporting $1.85 in EPS versus a $1.26 consensus estimate and $1.23 billion in revenue, up 7% year over year. Institutional investors own approximately 45.76% of the company.

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have earned an average rating of "Hold" from the ten analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $105.2857.

A number of equities research analysts have commented on the stock. Bank of America downgraded shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 target price for the company. in a research report on Tuesday, June 30th. JPMorgan Chase & Co. dropped their price target on Logitech International from $120.00 to $102.00 and set a "neutral" rating on the stock in a research note on Thursday, August 20th. Barclays cut their price objective on Logitech International from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Citigroup increased their target price on Logitech International from $115.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Morgan Stanley dropped their target price on Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 8th.

Hedge Funds Weigh In On Logitech International

Several large investors have recently added to or reduced their stakes in LOGI. Rockefeller Capital Management L.P. boosted its stake in shares of Logitech International by 15.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company's stock worth $86,000 after acquiring an additional 114 shares during the period. Pathstone Holdings LLC grew its holdings in Logitech International by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company's stock valued at $1,812,000 after buying an additional 120 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of Logitech International by 1.3% during the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company's stock valued at $918,000 after buying an additional 126 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Logitech International by 1.2% during the second quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company's stock valued at $971,000 after buying an additional 126 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Logitech International by 19.1% in the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company's stock worth $82,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Stock Down 0.1%

LOGI stock opened at $97.96 on Friday. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The firm has a market cap of $14.36 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 3.64 and a beta of 1.17. The business has a 50 day moving average of $101.30 and a 200 day moving average of $99.86.

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, beating the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $1.26 EPS. Logitech International's revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts expect that Logitech International will post 5.15 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be issued a $1.36 dividend. This represents a yield of 126.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

About Logitech International

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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