Citigroup Increases Logitech International (NASDAQ:LOGI) Price Target to $100.00

Logitech International (NASDAQ:LOGI - Free Report) had its price objective increased by Citigroup from $98.00 to $100.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the technology company's stock.

Other equities research analysts have also issued reports about the company. Barclays lifted their price target on Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Morgan Stanley boosted their target price on Logitech International from $83.00 to $85.00 and gave the stock an equal weight rating in a report on Wednesday, January 24th. Wedbush restated a neutral rating and issued a $92.00 price target on shares of Logitech International in a research note on Monday, March 18th. StockNews.com cut Logitech International from a strong-buy rating to a buy rating in a research note on Thursday, March 14th. Finally, Berenberg Bank began coverage on Logitech International in a research report on Thursday, March 14th. They issued a buy rating and a $111.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $93.86.

Logitech International Trading Down 3.1 %

Shares of LOGI stock traded down $2.82 during trading hours on Thursday, reaching $87.56. The company's stock had a trading volume of 392,762 shares, compared to its average volume of 443,837. The stock has a market capitalization of $13.85 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.83 and a beta of 0.74. Logitech International has a one year low of $53.91 and a one year high of $96.66. The firm's fifty day simple moving average is $88.07 and its 200 day simple moving average is $84.87.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings data on Monday, January 22nd. The technology company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.43. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. As a group, equities research analysts forecast that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at Logitech International

In other news, insider Samantha Harnett sold 650 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares of the company's stock, valued at $1,002,464.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Logitech International news, insider Samantha Harnett sold 650 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Prakash Arunkundrum sold 23,023 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the sale, the chief operating officer now owns 61,056 shares in the company, valued at $5,495,040. The disclosure for this sale can be found here. Insiders sold a total of 24,472 shares of company stock valued at $2,198,737 over the last 90 days. Company insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Logitech International

Several hedge funds and other institutional investors have recently modified their holdings of LOGI. Norges Bank purchased a new stake in shares of Logitech International in the fourth quarter worth approximately $238,096,000. Envestnet Asset Management Inc. increased its holdings in Logitech International by 3,263.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 950,573 shares of the technology company's stock worth $1,520,000 after purchasing an additional 922,313 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Logitech International by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company's stock worth $267,457,000 after purchasing an additional 760,263 shares during the period. Alliancebernstein L.P. increased its holdings in Logitech International by 62.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,585,481 shares of the technology company's stock worth $94,178,000 after purchasing an additional 608,262 shares during the period. Finally, Invesco Ltd. increased its holdings in Logitech International by 24.0% during the 1st quarter. Invesco Ltd. now owns 2,409,946 shares of the technology company's stock worth $177,807,000 after purchasing an additional 466,632 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.