Brokerages Set Logitech International S.A. (NASDAQ:LOGI) Price Target at $100.14

Shares of Logitech International S.A. (NASDAQ:LOGI) have been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $100.14.

Several research analysts have recently issued reports on the company. Morgan Stanley raised 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 report on Thursday, January 23rd. Bank of America restated an “underperform” rating and set a $90.00 target price (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup boosted their price objective on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th.

Logitech International Stock Down 1.5 %

Shares of Logitech International stock opened at $91.02 on Friday. Logitech International has a 52-week low of $74.72 and a 52-week high of $105.65. The company has a market capitalization of $14.39 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.61 and a beta of 0.73. The company has a 50 day moving average of $96.14 and a 200 day moving average of $88.10.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its Board of Directors has authorized a share buyback program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the 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 completion of the sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Logitech International

Several large investors have recently modified their holdings of LOGI. Wealth Enhancement Advisory Services LLC raised its position in Logitech International by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company’s stock worth $507,000 after buying an additional 120 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Logitech International by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock valued at $458,000 after purchasing an additional 127 shares during the period. Freedom Investment Management Inc. boosted its holdings in Logitech International by 4.1% in the 4th 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 in the last quarter. Investment Management Corp of Ontario increased its position in Logitech International by 0.4% during the 3rd 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 during the period. Finally, Tealwood Asset Management Inc. raised its stake in shares of Logitech International by 1.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after buying an additional 175 shares in the last quarter. Hedge funds and other 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.