Logitech International’s (LOGI) Underperform Rating Reaffirmed at Bank of America

Logitech International (NASDAQ:LOGI)‘s stock had its “underperform” rating reaffirmed by analysts at Bank of America in a report released on Friday, MarketBeat Ratings reports. They presently have a $90.00 price objective on the technology company’s stock, down from their prior price objective of $105.00. Bank of America‘s price objective would indicate a potential downside of 9.04% from the company’s current price.

A number of other research firms have also weighed in on LOGI. Wedbush reaffirmed a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research note on Wednesday, January 22nd. Barclays upped their price objective on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Logitech International has an average rating of “Hold” and an average price target of $96.88.

Logitech International Trading Down 2.2 %

Shares of LOGI opened at $98.94 on Friday. The firm has a market capitalization of $15.65 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.61 and a beta of 0.78. Logitech International has a 12-month low of $74.72 and a 12-month high of $105.65. The firm has a fifty day moving average price of $93.20 and a 200-day moving average price of $87.73.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. Analysts predict that Logitech International will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares in the company, valued at $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Logitech International

Hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA acquired a new position in shares of Logitech International during the fourth quarter valued at about $26,000. Sierra Ocean LLC acquired a new position in shares of Logitech International during the fourth quarter valued at about $27,000. Bessemer Group Inc. increased its holdings in shares of Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after acquiring an additional 308 shares in the last quarter. Exane Asset Management acquired a new position in shares of Logitech International during the fourth quarter valued at about $32,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after acquiring an additional 439 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

About Logitech International

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.