Logitech International (NASDAQ:LOGI) Price Target Raised to $78.00

Key Points

• Morgan Stanley has raised its price target for Logitech International from $74.00 to $78.00, maintaining an "equal weight" rating, which suggests a potential downside of 17.48% from the previous close.
• Other analysts have varied target prices for Logitech, with Loop Capital setting it at $78.00, while Wedbush increased theirs significantly to $110.00, indicating mixed sentiments in the market.
• Logitech International reported a quarterly earnings per share (EPS) of $0.93, exceeding the consensus estimate of $0.86, but the company's revenue decreased by 0.1% compared to the same quarter last year.

Logitech International (NASDAQ:LOGI - Free Report) had its price objective raised by Morgan Stanley from $74.00 to $78.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company's stock.

A number of other research analysts have also weighed in on LOGI. Wedbush boosted their target price on shares of Logitech International from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Citigroup upped 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. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and cut their price objective 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 for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $93.57.

Logitech International Stock Performance

Shares of NASDAQ LOGI traded down $3.21 during mid-day trading on Tuesday, reaching $89.67. 781,108 shares of the company traded hands, compared to its average volume of 640,392. The company's fifty day moving average is $89.69 and its two-hundred day moving average is $88.41. Logitech International has a fifty-two week low of $64.73 and a fifty-two week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.18. The firm had revenue of $1.15 billion during 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 business's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. As a group, equities research analysts expect that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Tuesday, September 23rd will be paid a $1.543 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This is an increase from Logitech International's previous annual dividend of $1.37. This represents a yield of 140.0%.

Institutional Trading of Logitech International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Banque Transatlantique SA bought a new stake in Logitech International in the fourth quarter valued at about $26,000. Bessemer Group Inc. grew its stake in Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after buying an additional 308 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Logitech International during the second quarter worth about $27,000. Quarry LP bought a new stake in Logitech International during the first quarter worth about $33,000. Finally, Tower Research Capital LLC TRC grew 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 worth $40,000 after buying an additional 439 shares during the last quarter. 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.