Logitech International S.A. (NASDAQ:LOGI) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Logitech International has an average analyst rating of “Hold” from 10 firms, with two sell ratings, five holds, and three buys. The average 12-month price target is about $109.57.
• The company’s latest quarterly results beat expectations, posting EPS of $1.13 versus the $1.10 estimate and revenue of $1.09 billion, up 7.4% year over year.
• Institutional interest remains strong, with hedge funds and large investors making notable additions; the article says 45.76% of Logitech shares are owned by institutional investors and hedge funds.

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have received an average recommendation of "Hold" from the ten ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $109.5714.

Several equities research analysts have issued reports on LOGI shares. Barclays raised their target price on Logitech International from $98.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Weiss Ratings raised Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 22nd. UBS Group cut Logitech International from a "buy" rating to a "neutral" rating in a report on Tuesday, March 17th. Citigroup raised their price objective on Logitech International from $115.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Logitech International from a "buy" rating to a "hold" rating in a report on Sunday, April 26th.

Hedge Funds Weigh In On Logitech International

Several large investors have recently made changes to their positions in LOGI. Arrowstreet Capital Limited Partnership boosted its position in shares of Logitech International by 305.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company's stock worth $227,859,000 after purchasing an additional 1,570,876 shares during the period. Morgan Stanley raised its position in Logitech International by 152.5% in the fourth quarter. Morgan Stanley now owns 2,190,070 shares of the technology company's stock valued at $219,489,000 after purchasing an additional 1,322,582 shares during the period. Assenagon Asset Management S.A. raised its position in Logitech International by 2,227.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company's stock valued at $98,189,000 after purchasing an additional 1,000,805 shares during the period. Credit Agricole S A purchased a new stake in Logitech International in the third quarter valued at approximately $104,402,000. Finally, Norges Bank acquired a new position in Logitech International during the fourth quarter worth $89,248,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $101.67 on Friday. The company has a 50 day simple moving average of $106.37 and a 200-day simple moving average of $98.28. The company has a market capitalization of $14.90 billion, a P/E ratio of 21.18, a P/E/G ratio of 4.13 and a beta of 1.17. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts expect that Logitech International will post 5.16 EPS for the current year.

Logitech International Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

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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