Logitech International (NASDAQ:LOGI) Cut to Buy at StockNews.com

StockNews.com lowered shares of Logitech International (NASDAQ:LOGIFree Report) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Several other brokerages also recently issued reports on LOGI. Wedbush upped their price target on shares of Logitech International from $90.00 to $92.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Morgan Stanley increased their price objective on Logitech International from $83.00 to $85.00 and gave the company an equal weight rating in a report on Wednesday, January 24th. Finally, Barclays increased their price objective on Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Logitech International currently has an average rating of Hold and an average price target of $86.83.

Get Our Latest Analysis on Logitech International

Logitech International Trading Up 1.3 %

Shares of LOGI stock opened at $94.72 on Thursday. The stock has a market cap of $14.98 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.74. The stock has a 50 day simple moving average of $89.02 and a 200 day simple moving average of $83.19. Logitech International has a 1 year low of $52.19 and a 1 year high of $96.66.

Logitech International (NASDAQ:LOGIGet Free Report) last released its earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.23 billion. Analysts forecast that Logitech International will post 3.44 EPS for the current year.

Insider Transactions at Logitech International

In other news, COO Prakash Arunkundrum sold 23,023 shares of Logitech International stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the sale, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Logitech International news, insider Samantha Harnett sold 650 shares of the business’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 in the company, valued at $1,002,464.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Prakash Arunkundrum sold 23,023 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the transaction, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,472 shares of company stock valued at $2,198,737. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

A number of hedge funds have recently modified their holdings of LOGI. PNC Financial Services Group Inc. increased its position in shares of Logitech International by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,018 shares of the technology company’s stock valued at $223,000 after acquiring an additional 249 shares during the period. Natixis Advisors L.P. purchased a new position in shares of Logitech International during the first quarter valued at about $1,064,000. BlackRock Inc. increased its position in shares of Logitech International by 19.2% during the first quarter. BlackRock Inc. now owns 578,107 shares of the technology company’s stock valued at $42,652,000 after buying an additional 93,104 shares during the period. Cibc World Market Inc. increased its position in shares of Logitech International by 51.9% during the first quarter. Cibc World Market Inc. now owns 8,775 shares of the technology company’s stock valued at $647,000 after buying an additional 3,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Logitech International by 24.2% during the first quarter. Dimensional Fund Advisors LP now owns 469,184 shares of the technology company’s stock valued at $34,625,000 after buying an additional 91,536 shares during the period. Hedge funds and other institutional investors own 38.58% of the company’s stock.

About Logitech International

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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.

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