Logitech International (NASDAQ:LOGI) Downgraded by StockNews.com to Hold

Logitech International (NASDAQ:LOGI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

LOGI has been the subject of a number of other research reports. Citigroup lifted their target price on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note on Wednesday, January 22nd. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Bank of America restated an “underperform” rating and set a $90.00 target price (down from $105.00) on shares of Logitech International in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.88.

Logitech International Price Performance

Shares of NASDAQ LOGI traded down $1.40 during midday trading on Monday, hitting $97.54. The stock had a trading volume of 581,442 shares, compared to its average volume of 534,246. The firm has a market cap of $15.43 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 2.61 and a beta of 0.78. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $105.65. The company’s 50-day simple moving average is $93.50 and its 200 day simple moving average is $87.79.

Logitech International (NASDAQ:LOGI) last released 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%. Equities analysts expect that Logitech International will post 4.21 EPS for the current fiscal year.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the completion of the transaction, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in Logitech International by 2.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock valued at $458,000 after acquiring an additional 127 shares in the last quarter. Freedom Investment Management Inc. raised its holdings in shares of Logitech International by 4.1% in the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company’s stock valued at $284,000 after purchasing an additional 136 shares during the last quarter. Investment Management Corp of Ontario lifted its position in shares of Logitech International by 0.4% in the third quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock worth $3,629,000 after purchasing an additional 170 shares in the last quarter. Tealwood Asset Management Inc. boosted its holdings in Logitech International by 1.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after purchasing an additional 175 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Logitech International by 2.5% during the third quarter. US Bancorp DE now owns 7,898 shares of the technology company’s stock worth $709,000 after purchasing an additional 196 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

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.