Wedbush Issues Positive Forecast for Logitech International (NASDAQ:LOGI) Stock Price

Logitech International (NASDAQ:LOGI - Free Report) had its price objective upped by Wedbush from $100.00 to $110.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the technology company's stock.

Several other brokerages have also recently weighed in on LOGI. JPMorgan Chase & Co. raised their price target on shares of Logitech International from $80.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Loop Capital dropped their target price on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and lowered their price target for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Barclays cut their price objective on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group upgraded shares of Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $92.71.

Logitech International Stock Performance

Shares of NASDAQ LOGI traded up $0.98 during midday trading on Tuesday, hitting $96.70. 394,952 shares of the stock traded hands, compared to its average volume of 732,490. Logitech International has a one year low of $64.73 and a one year high of $105.65. The business has a 50 day moving average price of $88.69 and a two-hundred day moving average price of $88.07. The company has a market cap of $15.41 billion, a PE ratio of 23.31, a P/E/G ratio of 20.25 and a beta of 0.96.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. Logitech International had a net margin of 13.86% and a return on equity of 30.40%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $0.99 EPS. Logitech International's quarterly revenue was down .1% on a year-over-year basis. As a group, equities research analysts forecast that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 23rd will be paid a $1.543 dividend. This represents a yield of 1.4%. This is a boost from Logitech International's previous annual dividend of $1.37. The ex-dividend date of this dividend is Tuesday, September 23rd.

Institutional Investors Weigh In On Logitech International

A number of hedge funds have recently modified their holdings of LOGI. Banque Transatlantique SA bought a new stake in shares of Logitech International in the fourth quarter valued at approximately $26,000. Bessemer Group Inc. boosted its holdings in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after purchasing an additional 308 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Logitech International during the 2nd quarter valued at $27,000. Quarry LP purchased a new stake in shares of Logitech International in the first quarter worth $33,000. Finally, Tower Research Capital LLC TRC boosted its stake in Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock valued at $40,000 after buying an additional 439 shares during the period. Institutional investors own 45.76% of the company's stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.