Wedbush Reaffirms "Outperform" Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Wednesday,RTT News reports. They presently have a $100.00 target price on the technology company's stock. Wedbush's price target points to a potential upside of 13.95% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Loop Capital dropped their target price on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Citigroup cut their target price on Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and cut their price objective for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. UBS Group upgraded Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley raised Logitech International from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $73.00 to $92.00 in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $84.29.

Logitech International Price Performance

Shares of NASDAQ:LOGI traded up $1.21 on Wednesday, hitting $87.76. 239,335 shares of the company's stock were exchanged, compared to its average volume of 626,961. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. Logitech International has a 12 month low of $64.73 and a 12 month high of $105.65. The business's 50 day simple moving average is $80.00 and its two-hundred day simple moving average is $85.79.

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

Logitech International declared that its board has authorized a share repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Institutional Trading of Logitech International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock worth $451,426,000 after acquiring an additional 1,967,133 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Logitech International by 56.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock worth $53,000 after buying an additional 233 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Logitech International by 4,876.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company's stock valued at $13,798,000 after buying an additional 164,185 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Logitech International by 2.9% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 152,912 shares of the technology company's stock valued at $12,656,000 after buying an additional 4,369 shares during the period. Finally, DGS Capital Management LLC purchased a new position in Logitech International during the 4th quarter valued at about $219,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Company Profile

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.

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