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

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) has been given an average rating of "Hold" by the ten research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $84.29.

A number of brokerages recently weighed in on LOGI. Barclays dropped their target price 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. Bank of America upgraded shares of Logitech International from an "underperform" rating to a "neutral" rating and lowered their price objective for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Wall Street Zen lowered shares of Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Wedbush reiterated an "outperform" rating and set a $100.00 price objective on shares of Logitech International in a research report on Wednesday, May 21st. Finally, Citigroup lowered their price objective on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th.

Logitech International Stock Performance

Shares of NASDAQ LOGI traded up $0.94 during midday trading on Thursday, reaching $85.25. The stock had a trading volume of 389,543 shares, compared to its average volume of 631,291. The stock has a 50-day moving average of $78.71 and a 200-day moving average of $86.31. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.61 and a beta of 0.96. Logitech International has a 12-month low of $64.73 and a 12-month high of $105.65.

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

Logitech International announced that its board has initiated a stock buyback program on Wednesday, March 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Logitech International

Several institutional investors have recently made changes to their positions in LOGI. Wealth Enhancement Advisory Services LLC increased its position in Logitech International by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company's stock valued at $507,000 after purchasing an additional 120 shares during the period. PNC Financial Services Group Inc. increased its position in Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company's stock valued at $458,000 after purchasing an additional 127 shares during the period. State of Wyoming increased its position in Logitech International by 4.2% during the 1st quarter. State of Wyoming now owns 3,340 shares of the technology company's stock valued at $282,000 after purchasing an additional 135 shares during the period. Freedom Investment Management Inc. increased its position in Logitech International by 4.1% during the 4th quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company's stock valued at $284,000 after purchasing an additional 136 shares during the period. Finally, US Bancorp DE increased its position in Logitech International by 1.7% during the 1st quarter. US Bancorp DE now owns 8,484 shares of the technology company's stock valued at $716,000 after purchasing an additional 140 shares during the period. Institutional investors 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.