Logitech International S.A. (NASDAQ:LOGI) Stock Has Average Price Target of $106.29

Key Points

• Analyst sentiment is mixed: Logitech has an average “Hold” rating from 10 analysts—six holds, two buys and two sells—with an average 12-month price target of $106.29.
• Quarterly results topped expectations: The company reported EPS of $1.51 versus the $1.34 consensus and revenue of $1.22 billion, up 2.8% year over year.
• Shares opened at $100.20, within a 12-month range of $83.32 to $129.66. Insider Samantha Harnett sold 16,265 shares under a pre-arranged trading plan.

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have been given an average rating of "Hold" by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $106.29.

Several analysts recently commented on the stock. Barclays increased their target price on shares of Logitech International from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 28th. Morgan Stanley lifted their price target on shares of Logitech International from $90.00 to $94.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. dropped their price target on Logitech International from $102.00 to $94.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a research report on Sunday, November 1st. Finally, Wedbush cut their price objective on Logitech International from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th.

Logitech International Trading Up 2.2%

Shares of NASDAQ LOGI opened at $100.20 on Thursday. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 5.18 and a beta of 1.21. The firm has a 50-day moving average of $101.84 and a two-hundred day moving average of $99.84.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 EPS. As a group, research analysts predict that Logitech International will post 5.27 earnings per share for the current year.

Insider Activity

In other news, insider Samantha Harnett sold 16,265 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the sale, the insider directly owned 37,097 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in Logitech International by 26.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company's stock worth $188,847,000 after buying an additional 435,000 shares during the period. Amundi boosted its holdings in shares of Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company's stock worth $151,724,000 after buying an additional 563,564 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Logitech International by 2,227.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company's stock worth $98,189,000 after buying an additional 1,000,805 shares during the period. Bank of America Corp DE boosted its holdings in shares of Logitech International by 16.5% in the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company's stock worth $83,442,000 after buying an additional 129,967 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Logitech International by 104.2% in the third quarter. Russell Investments Group Ltd. now owns 466,372 shares of the technology company's stock worth $47,025,000 after acquiring an additional 238,038 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Company Profile

Logitech International S.A. designs and sells hardware and software for personal computing, communication, collaboration, gaming and digital content creation. Its products include mice, keyboards, webcams, headsets, speakers, gaming devices and video-conferencing systems. The company serves consumers, businesses, schools and other organizations around the world through retail, e-commerce and business-to-business channels. Its product portfolio includes Logitech-branded devices and gaming products sold under the Logitech G brand.

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