Logitech International (NASDAQ:LOGI) Cut to "Neutral" at UBS Group

Key Points

• UBS downgraded Logitech from a "buy" to a "neutral" rating, and the stock's analyst consensus is now a Hold (3 buys, 7 holds, 1 sell) with a consensus price target of $102.13.
• Logitech beat quarterly estimates (EPS $1.93 vs. $1.78; revenue $1.42B vs. $1.40B) but the shares fell to $92.46 on the day, trading below their 200-day moving average of $104.27.
• Analyst views are mixed — Morgan Stanley cut its target to $89 and moved to underweight while Citi trimmed its target to $115 and stayed bullish — reflecting divergent expectations for the stock.

Logitech International (NASDAQ:LOGI - Get Free Report) was downgraded by investment analysts at UBS Group from a "buy" rating to a "neutral" rating in a research note issued on Tuesday.

LOGI has been the topic of several other reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Logitech International in a research report on Thursday, January 22nd. Morgan Stanley restated an "underweight" rating and set a $89.00 target price (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Citigroup dropped their price target on Logitech International from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, January 20th. Zacks Research downgraded Logitech International from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Saturday, December 27th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Logitech International has an average rating of "Hold" and a consensus target price of $102.13.

Logitech International Price Performance

Shares of LOGI stock traded down $2.22 on Tuesday, hitting $92.46. 1,538,115 shares of the stock traded hands, compared to its average volume of 1,298,196. The company's fifty day moving average is $92.04 and its 200 day moving average is $104.27. Logitech International has a 1-year low of $64.73 and a 1-year high of $123.01. The company has a market capitalization of $13.55 billion, a PE ratio of 19.25, a PEG ratio of 3.40 and a beta of 1.09.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.15. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.59 EPS. As a group, equities research analysts expect that Logitech International will post 4.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LOGI. Quarry LP acquired a new position in shares of Logitech International in the 3rd quarter worth approximately $30,000. Mather Group LLC. acquired a new stake in Logitech International in the 3rd quarter valued at $34,000. Westerkirk Capital Inc. bought a new stake in Logitech International in the second quarter valued at $36,000. Richardson Financial Services Inc. grew its position in Logitech International by 63.7% in the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company's stock valued at $36,000 after acquiring an additional 128 shares during the period. Finally, Westside Investment Management Inc. raised its stake in Logitech International by 100.0% during the third quarter. Westside Investment Management Inc. now owns 326 shares of the technology company's stock worth $36,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company's stock.

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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