Logitech International (NASDAQ:LOGI) Stock Rating Reaffirmed by Morgan Stanley

Logitech International (NASDAQ:LOGI - Get Free Report)'s stock had its "underweight" rating restated by Morgan Stanley in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $75.00 price target on the technology company's stock, down from their previous price target of $85.00. Morgan Stanley's price target indicates a potential downside of 7.70% from the stock's previous close.

A number of other analysts also recently weighed in on the company. Berenberg Bank initiated coverage on Logitech International in a report on Thursday, March 14th. They set a "buy" rating and a $111.00 price target for the company. Wedbush reissued a "neutral" rating and set a $92.00 price objective on shares of Logitech International in a research report on Monday, March 18th. StockNews.com cut shares of Logitech International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 14th. Citigroup increased their price objective on shares of Logitech International from $98.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, April 4th. Finally, Barclays increased their price objective on shares of Logitech International from $96.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $92.43.

Logitech International Price Performance

NASDAQ LOGI traded down $5.58 on Monday, reaching $81.26. The company had a trading volume of 1,224,321 shares, compared to its average volume of 440,102. The business has a 50 day moving average of $88.40 and a two-hundred day moving average of $85.81. Logitech International has a fifty-two week low of $53.91 and a fifty-two week high of $96.66. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.79 and a beta of 0.74.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results 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. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. As a group, research analysts predict that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 650 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the transaction, the insider now owns 11,910 shares of the company's stock, valued at approximately $1,002,464.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Logitech International news, insider Samantha Harnett sold 650 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Prakash Arunkundrum sold 699 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the sale, the chief operating officer now owns 67,848 shares of the company's stock, valued at approximately $6,106,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,572 shares of company stock valued at $2,207,555. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Logitech International by 249.1% in the 3rd quarter. Allworth Financial LP now owns 754 shares of the technology company's stock valued at $52,000 after buying an additional 538 shares during the last quarter. Qtron Investments LLC purchased a new stake in shares of Logitech International during the 3rd quarter worth approximately $585,000. Tudor Investment Corp Et Al increased its stake in shares of Logitech International by 73.3% during the 3rd quarter. Tudor Investment Corp Et Al now owns 58,914 shares of the technology company's stock worth $4,062,000 after purchasing an additional 24,923 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Logitech International by 2.3% during the 4th quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company's stock worth $501,223,000 after purchasing an additional 121,060 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Logitech International by 10.7% during the 3rd quarter. FMR LLC now owns 49,033 shares of the technology company's stock worth $3,390,000 after purchasing an additional 4,721 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

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.