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

StockNews.com lowered shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a report released on Monday.

A number of other research firms have also weighed in on LOGI. Bank of America reissued an “underperform” rating and set a $90.00 target price (down from $105.00) on shares of Logitech International in a report on Friday, February 28th. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Citigroup raised their target price on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Barclays upped their price target on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wedbush restated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Logitech International has an average rating of “Hold” and a consensus price target of $96.88.

Logitech International Trading Up 2.0 %

NASDAQ LOGI opened at $97.69 on Monday. The firm has a market capitalization of $15.45 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.78. The firm’s fifty day moving average price is $93.75 and its two-hundred day moving average price is $87.83. Logitech International has a 1 year low of $74.72 and a 1 year high of $105.65.

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 the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, research analysts anticipate that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Transatlantique SA bought a new position in Logitech International in the fourth quarter valued at about $26,000. Sierra Ocean LLC bought a new stake in shares of Logitech International during the 4th quarter valued at approximately $27,000. Bessemer Group Inc. increased its position in Logitech International by 1,339.1% during the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock worth $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management acquired a new position in Logitech International during the 4th quarter worth approximately $32,000. Finally, Tower Research Capital LLC TRC lifted its stake in Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after purchasing an additional 439 shares during the last quarter. Institutional investors 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.