Logitech International (NASDAQ:LOGI) Given Outperform Rating at Wedbush

Key Points

• Wedbush reiterated its outperform rating on Logitech International and set a $135 price target, implying about 31% upside from the current share price.
• Analyst sentiment is mixed overall: Logitech has an average Hold rating, with a consensus price target of $109.57, while other firms have recently raised, lowered, or changed their ratings.
• Logitech reported better-than-expected quarterly results, including $1.13 EPS on $1.09 billion in revenue, and the stock was trading up 1.1% at $102.91.

Logitech International (NASDAQ:LOGI - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Wedbush in a research note issued on Wednesday,Benzinga reports. They currently have a $135.00 target price on the technology company's stock. Wedbush's price target would indicate a potential upside of 31.18% from the company's current price.

Several other research analysts also recently issued reports on the stock. Citigroup upped their price target on shares of Logitech International from $115.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Morgan Stanley lowered their target price on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a report on Wednesday, July 8th. Weiss Ratings upgraded Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 22nd. Bank of America lowered Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price target on the stock. in a research note on Tuesday, June 30th. Finally, Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a research note on Sunday, April 26th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $109.57.

Logitech International Trading Up 1.1%

Shares of NASDAQ LOGI opened at $102.91 on Wednesday. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 4.26 and a beta of 1.17. Logitech International has a 12 month low of $83.32 and a 12 month high of $129.66. The stock has a 50-day moving average price of $106.04 and a two-hundred day moving average price of $98.17.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. On average, sell-side analysts predict that Logitech International will post 5.21 earnings per share for the current year.

Hedge Funds Weigh In On Logitech International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its stake in shares of Logitech International by 305.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company's stock valued at $227,859,000 after purchasing an additional 1,570,876 shares during the last quarter. Morgan Stanley grew its holdings in Logitech International by 152.5% during the 4th quarter. Morgan Stanley now owns 2,190,070 shares of the technology company's stock worth $219,489,000 after acquiring an additional 1,322,582 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Logitech International by 2,227.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company's stock worth $98,189,000 after acquiring an additional 1,000,805 shares in the last quarter. Credit Agricole S A acquired a new position in shares of Logitech International in the 3rd quarter valued at about $104,402,000. Finally, Norges Bank bought a new stake in shares of Logitech International during the 4th quarter valued at about $89,248,000. 45.76% of the stock is owned by institutional investors and hedge funds.

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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