Logitech International (NASDAQ:LOGI) Receives Underperform Rating from Bank of America

Logitech International (NASDAQ:LOGI)‘s stock had its “underperform” rating restated by equities researchers at Bank of America in a research report issued on Friday. They currently 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 11.08% from the company’s previous close.

LOGI has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Finally, Wedbush reissued a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research report on Wednesday, January 22nd. One investment 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.88.

Logitech International Trading Down 3.5 %

Shares of NASDAQ:LOGI opened at $101.21 on Friday. The firm has a market cap of $16.01 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 2.61 and a beta of 0.78. Logitech International has a 1 year low of $74.72 and a 1 year high of $105.65. The business has a fifty day simple moving average of $92.86 and a 200 day simple moving average of $87.65.

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

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of Logitech International by 8.2% during the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company’s stock worth $448,409,000 after acquiring an additional 414,236 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after purchasing an additional 1,240,478 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Logitech International by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company’s stock valued at $341,610,000 after acquiring an additional 85,278 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Logitech International by 6.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock valued at $215,127,000 after buying an additional 146,338 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Logitech International by 3.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company’s stock valued at $219,611,000 after acquiring an additional 89,788 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.