Logitech International S.A. (NASDAQ:LOGI) Stock Has Consensus Price Target of $104.14 According to Brokerages

Key Points

• Analyst consensus is “Hold” for Logitech, with five hold, three buy, and two sell ratings. The average 12-month price target is $104.14, close to the stock’s reported price of $104.41.
• Logitech’s latest quarterly results exceeded expectations, with EPS of $1.85 versus $1.26 expected and revenue of $1.23 billion, up 7% year over year.
• Institutional investors own 45.76% of the company and several large funds increased their positions, while an insider sold shares worth approximately $1.65 million under a pre-arranged trading plan.

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have earned an average recommendation of "Hold" from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $104.14.

A number of brokerages recently weighed in on LOGI. 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 report on Tuesday, June 30th. Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Monday, September 28th. Wedbush reduced their price objective on Logitech International from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price objective on Logitech International from $102.00 to $94.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 13th. Finally, Morgan Stanley decreased their price objective 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.

Logitech International Trading Down 0.7%

LOGI opened at $104.41 on Friday. The stock has a market capitalization of $15.31 billion, a PE ratio of 19.16, a PEG ratio of 3.79 and a beta of 1.14. Logitech International has a 1-year low of $83.32 and a 1-year high of $129.66. The firm has a 50-day moving average price of $101.05 and a two-hundred day moving average price of $102.36.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that Logitech International will post 5.26 EPS for the current year.

Insider Buying and Selling at Logitech International

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 completion of the sale, the insider owned 37,097 shares in the company, valued at $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Logitech International

Large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in 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 valued at $83,442,000 after buying an additional 129,967 shares during the period. Entropy Technologies LP boosted its stake in Logitech International by 647.0% in the first quarter. Entropy Technologies LP now owns 18,921 shares of the technology company's stock valued at $1,724,000 after acquiring an additional 16,388 shares during the last quarter. Amundi grew its holdings in Logitech International by 51.2% during the 1st quarter. Amundi now owns 1,665,096 shares of the technology company's stock worth $151,724,000 after acquiring an additional 563,564 shares during the period. Groupe la Francaise acquired a new stake in Logitech International during the 1st quarter worth $4,668,000. Finally, Renaissance Technologies LLC grew 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 acquiring an additional 435,000 shares during the period. Institutional investors and hedge funds own 45.76% of the company's stock.

Logitech International Company Profile

Logitech International is a technology company that designs and develops hardware and software intended to help people connect, create, communicate and interact with digital devices. Its products are sold to consumers, businesses, educators, gamers, streamers and other professional users through retailers, online channels and business partners worldwide.

The company's product portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, presentation devices and accessories.

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