Logitech International (NASDAQ:LOGI) Price Target Raised to $115.00

Key Points

• Wedbush has raised its price target for Logitech International from $110 to $115, indicating a potential upside of 22.68% from its current price.
• Logitech reported $1.26 earnings per share (EPS) for the last quarter, surpassing estimates and showing a year-over-year revenue growth of 5.5%.
• The company's stock has received varying ratings, with seven analysts maintaining a "hold" rating and four analysts offering buy ratings, illustrating differing opinions on its performance outlook.

Logitech International (NASDAQ:LOGI - Get Free Report) had its target price increased by equities researchers at Wedbush from $110.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Wedbush's target price would suggest a potential upside of 28.25% from the company's previous close.

A number of other equities analysts have also issued reports on the stock. Barclays raised their target price on shares of Logitech International from $92.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday. UBS Group upgraded shares of Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley raised their target price on shares of Logitech International from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Loop Capital lowered their price objective on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, Citigroup lifted their price objective on shares of Logitech International from $85.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $93.57.

Logitech International Stock Performance

Logitech International stock traded down $3.21 during mid-day trading on Wednesday, hitting $89.67. The company had a trading volume of 781,108 shares, compared to its average volume of 679,449. Logitech International has a 1 year low of $64.73 and a 1 year high of $105.65. The business has a fifty day moving average of $89.69 and a 200 day moving average of $88.41.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.18. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Logitech International had a net margin of 13.78% and a return on equity of 30.81%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. Research analysts forecast that Logitech International will post 4.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Logitech International

Several institutional investors have recently made changes to their positions in LOGI. LPL Financial LLC boosted its position in shares of Logitech International by 122.9% during the 4th quarter. LPL Financial LLC now owns 40,115 shares of the technology company's stock worth $3,303,000 after purchasing an additional 22,122 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Logitech International by 10.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,094 shares of the technology company's stock worth $502,000 after buying an additional 560 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Logitech International by 10.7% in the 4th quarter. Wellington Management Group LLP now owns 150,393 shares of the technology company's stock worth $12,453,000 after buying an additional 14,497 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Logitech International by 3.7% in the 4th quarter. Franklin Resources Inc. now owns 370,521 shares of the technology company's stock worth $30,531,000 after buying an additional 13,364 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Logitech International by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 130,019 shares of the technology company's stock worth $10,707,000 after buying an additional 1,140 shares in the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

About Logitech International

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.