Logitech International S.A. (NASDAQ:LOGI) Given Average Recommendation of "Hold" by Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have been assigned an average rating of "Hold" from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $85.71.

Several equities research analysts have issued reports on LOGI shares. UBS Group upgraded shares of Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and decreased their target price for the company from $90.00 to $73.00 in a report on Friday, April 4th. Morgan Stanley raised Logitech International from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Barclays cut their target price on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a report on Thursday, April 17th.

Institutional Investors Weigh In On Logitech International

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of Logitech International during the first quarter valued at approximately $130,000. Deutsche Bank AG boosted its holdings in shares of Logitech International by 13.5% in the first quarter. Deutsche Bank AG now owns 1,449,739 shares of the technology company's stock worth $122,372,000 after acquiring an additional 172,320 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Logitech International by 16.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,976 shares of the technology company's stock valued at $2,024,000 after acquiring an additional 3,362 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in Logitech International during the first quarter worth about $4,714,000. Finally, Vanguard Group Inc. increased its position in shares of Logitech International by 1.0% in the first quarter. Vanguard Group Inc. now owns 6,412,308 shares of the technology company's stock worth $543,347,000 after purchasing an additional 66,175 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company's stock.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $80.62 on Friday. The company's 50-day moving average price is $80.99 and its two-hundred day moving average price is $85.58. Logitech International has a one year low of $64.73 and a one year high of $105.65. The stock has a market capitalization of $12.75 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $0.99 EPS. Logitech International's revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts anticipate that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.

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