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

Key Points

• Analysts hold a cautious view: Logitech has a consensus “Hold” rating from 10 brokerages, with two sells, five holds and three buys. The average 12-month price target is $107.86.
• Quarterly results exceeded expectations: Logitech reported $1.85 in EPS versus the $1.26 consensus estimate, while revenue reached $1.23 billion, up 7% year over year and above forecasts.
• The stock opened at $105.11, with a market capitalization of approximately $15.41 billion and a 52-week trading range of $83.32 to $129.66. Institutional investors own about 45.76% of the company.

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have been given an average rating of "Hold" by the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $107.8571.

LOGI has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a research report on Wednesday, July 8th. Bank of America lowered Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price target for the company. in a research note on Tuesday, June 30th. Weiss Ratings upgraded Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, May 22nd. JPMorgan Chase & Co. reduced their price objective on Logitech International from $123.00 to $120.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Wall Street Zen cut Logitech International from a "buy" rating to a "hold" rating in a report on Sunday, April 26th.

Logitech International Stock Performance

LOGI opened at $105.11 on Tuesday. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 3.76 and a beta of 1.17. The company has a fifty day moving average of $105.90 and a 200 day moving average of $98.60. Logitech International has a fifty-two week low of $83.32 and a fifty-two week high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.26 EPS. Logitech International's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Logitech International will post 5.21 earnings per share for the current year.

Logitech International Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be issued a $1.36 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

Institutional Investors Weigh In On Logitech International

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its position in Logitech International by 15.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company's stock valued at $86,000 after buying an additional 114 shares during the period. Pathstone Holdings LLC raised its position in Logitech International by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company's stock valued at $1,812,000 after purchasing an additional 120 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Logitech International by 2.0% in the 4th quarter. Signaturefd LLC now owns 6,167 shares of the technology company's stock worth $618,000 after buying an additional 122 shares during the period. Guggenheim Capital LLC grew its position in shares of Logitech International by 1.3% during the 2nd quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company's stock worth $918,000 after buying an additional 126 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Logitech International by 1.2% during the 2nd quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company's stock worth $971,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company's product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.

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