Barclays Forecasts Strong Price Appreciation for Logitech International (NASDAQ:LOGI) Stock

Key Points

• Barclays raised its price objective for Logitech International from $92.00 to $107.00, indicating a potential upside of 12.77% from the previous close.
• Logitech reported $1.26 EPS for the quarter, exceeding analysts' expectations of $1.08, with year-over-year revenue growth of 5.5% to $1.15 billion.
• The average rating for Logitech's stock is currently a "Hold," with a consensus target price of $93.57 from various analysts.

Logitech International (NASDAQ:LOGI - Free Report) had its price target boosted by Barclays from $92.00 to $107.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the technology company's stock.

Several other analysts also recently issued reports on LOGI. Loop Capital reduced their price objective on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Wedbush increased their target price on Logitech International from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Morgan Stanley increased their target price on Logitech International from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. increased their target price on Logitech International from $80.00 to $104.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Citigroup increased their target price on Logitech International from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Logitech International currently has a consensus rating of "Hold" and a consensus price target of $93.57.

Logitech International Stock Down 3.5%

Shares of NASDAQ:LOGI traded down $3.21 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 52-week low of $64.73 and a 52-week high of $105.65. The business has a 50 day moving average of $89.69 and a 200 day moving average of $88.41.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. Logitech International had a return on equity of 30.81% and a net margin of 13.78%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business earned $1.13 earnings per share. The business's revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Logitech International will post 4.21 earnings per share 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. Stockholders of record on Tuesday, September 23rd will be paid a $1.543 dividend. This represents a dividend yield of 140.0%. This is an increase from Logitech International's previous annual dividend of $1.37. The ex-dividend date is Tuesday, September 23rd.

Institutional Investors Weigh In On Logitech International

A number of large investors have recently modified their holdings of the stock. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its stake in shares of Logitech International by 27.8% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 46,554 shares of the technology company's stock valued at $4,169,000 after buying an additional 10,141 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Logitech International by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 113,261 shares of the technology company's stock valued at $10,208,000 after buying an additional 3,545 shares in the last quarter. Foster & Motley Inc. boosted its holdings in Logitech International by 448.6% in the second quarter. Foster & Motley Inc. now owns 17,551 shares of the technology company's stock valued at $1,582,000 after purchasing an additional 14,352 shares during the last quarter. Generali Asset Management SPA SGR boosted its holdings in Logitech International by 4.2% in the second quarter. Generali Asset Management SPA SGR now owns 41,183 shares of the technology company's stock valued at $3,712,000 after purchasing an additional 1,644 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Logitech International by 1.7% in the second quarter. TD Asset Management Inc now owns 68,301 shares of the technology company's stock valued at $6,154,000 after purchasing an additional 1,149 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company's stock.

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.