Logitech International (NASDAQ:LOGI) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Logitech from a "buy" to a "hold" in its latest research note.
• Several other firms have cut ratings or price targets, leaving Logitech with a consensus "Hold" (2 Buy, 7 Hold, 1 Sell) and an average target price of $106.29.
• Logitech recently beat quarterly estimates with EPS $1.93 vs. $1.78 and revenue of $1.42B, yet its shares trade around $95.39—below the 200‑day SMA of $101.15 and well inside a 52‑week range of $74.08–$123.01.

Logitech International (NASDAQ:LOGI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other brokerages also recently commented on LOGI. Morgan Stanley reaffirmed an "underweight" rating and issued a $89.00 price objective (down from $107.00) on shares of Logitech International in a research report on Tuesday, January 20th. BNP Paribas Exane lowered shares of Logitech International from an "outperform" rating to a "neutral" rating and set a $106.00 price objective on the stock. in a report on Thursday, January 8th. Wedbush restated an "outperform" rating and issued a $135.00 target price on shares of Logitech International in a report on Tuesday, January 20th. Weiss Ratings lowered shares of Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Finally, Citigroup cut their price target on shares of Logitech International from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Logitech International has an average rating of "Hold" and an average target price of $106.29.

Logitech International Stock Up 0.4%

NASDAQ LOGI opened at $95.39 on Friday. The firm has a market cap of $13.98 billion, a PE ratio of 19.96, a P/E/G ratio of 3.37 and a beta of 1.08. Logitech International has a 52 week low of $74.08 and a 52 week high of $123.01. The business's fifty day simple moving average is $92.64 and its 200-day simple moving average is $101.15.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 earnings per share. Research analysts expect that Logitech International will post 5.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of 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 position in Logitech International in the third quarter worth $34,000. Richardson Financial Services Inc. increased its stake in Logitech International by 63.7% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company's stock valued at $36,000 after purchasing an additional 128 shares during the last quarter. Westside Investment Management Inc. increased 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 valued at $36,000 after purchasing an additional 163 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Logitech International by 61.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company's stock worth $46,000 after purchasing an additional 173 shares during the period. Institutional investors 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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