Logitech International S.A. (NASDAQ:LOGI) Receives Consensus Recommendation of “Hold” from Analysts

Logitech International S.A. (NASDAQ:LOGI) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $90.57.

LOGI has been the topic of a number of research reports. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their price objective on Logitech International from $96.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday. Barclays upped their target price on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup decreased their price target on Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, April 14th.

Insider Buying and Selling at Logitech International

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction on Monday, February 3rd. The shares were 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 of the company’s stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Logitech International by 64.2% during the third 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 in the last quarter. Norges Bank acquired a new position in Logitech International during the 4th quarter valued at about $156,888,000. Assenagon Asset Management S.A. increased its holdings in Logitech International by 2,315.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after purchasing an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock worth $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after purchasing an additional 655,025 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Price Performance

Shares of LOGI stock opened at $71.63 on Wednesday. The stock has a 50-day moving average of $88.64 and a 200-day moving average of $86.56. Logitech International has a one year low of $64.73 and a one year high of $105.65. The stock has a market cap of $11.33 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. As a group, research analysts anticipate that Logitech International will post 4.21 earnings per share for the current year.

Logitech International declared that its board has approved a stock repurchase plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.