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

Key Points

• Logitech has a consensus “Hold” rating from 10 brokerages: six holds, two sells and two buys. The average 12-month price target is $105.29, close to the stock’s reported $105.82 opening price.
• Several analysts recently became more cautious, including Bank of America downgrading the stock to “underperform” with an $86 target and Morgan Stanley assigning an “underweight” rating with an $88 target; other firms also reduced price targets.
• Logitech’s latest quarterly results exceeded expectations, with EPS of $1.85 versus a $1.26 estimate and revenue of $1.23 billion. Revenue rose 7% year over year, while institutional investors own 45.76% of the company.

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have earned a consensus rating of "Hold" from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $105.2857.

A number of analysts have recently commented on LOGI shares. Bank of America lowered shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price target for the company. in a research note on Tuesday, June 30th. Morgan Stanley dropped their target price on shares of Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings downgraded shares of Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, September 2nd. Barclays decreased their target price on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Finally, Wedbush lowered their price target on Logitech International from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the 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 owned 37,097 shares of the company's stock, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Logitech International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Andra AP fonden lifted its stake in shares of Logitech International by 801.7% in the 2nd quarter. Andra AP fonden now owns 64,111 shares of the technology company's stock worth $6,029,000 after purchasing an additional 57,001 shares during the period. Sequoia Financial Advisors LLC increased its holdings in 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 increased its holdings in Logitech International by 44.2% during the second quarter. Engineers Gate Manager LP now owns 29,739 shares of the technology company's stock valued at $2,797,000 after buying an additional 9,119 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Logitech International in the second quarter worth approximately $115,000. Finally, IFP Advisors Inc raised its position in Logitech International by 163.8% in the second quarter. IFP Advisors Inc now owns 3,400 shares of the technology company's stock worth $320,000 after acquiring an additional 2,111 shares during the period. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $105.82 on Wednesday. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The company has a market cap of $15.51 billion, a P/E ratio of 19.42, a PEG ratio of 3.88 and a beta of 1.18. The stock's fifty day moving average price is $101.92 and its 200-day moving average price is $101.16.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.26 by $0.59. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. On average, sell-side analysts anticipate that Logitech International will post 5.18 earnings per share for the current year.

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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