Logitech International (NASDAQ:LOGI) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Logitech International (NASDAQ:LOGI) from a buy rating to a strong-buy rating in a report released on Friday morning.

A number of other equities analysts have also recently weighed in on LOGI. JPMorgan Chase & Co. cut shares of Logitech International from an overweight rating to a neutral rating and decreased their price objective for the company from $92.00 to $85.00 in a research report on Wednesday, May 1st. Citigroup increased their price target on shares of Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. Morgan Stanley reaffirmed an underweight rating and set a $75.00 price target (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Wedbush reaffirmed a neutral rating and set a $92.00 price target on shares of Logitech International in a research report on Tuesday, April 30th. Finally, Berenberg Bank assumed coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a buy rating and a $111.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $91.00.

Logitech International Trading Down 0.4 %

Shares of Logitech International stock opened at $96.51 on Friday. The company has a fifty day moving average price of $92.20 and a 200 day moving average price of $90.21. Logitech International has a twelve month low of $57.77 and a twelve month high of $102.59. The stock has a market cap of $15.26 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.99 and a beta of 0.80.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. Analysts forecast that Logitech International will post 3.85 earnings per share for the current year.

Insider Buying and Selling

In other Logitech International news, CFO Charles D. Boynton acquired 1,225 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now directly owns 1,225 shares in the company, valued at $99,555.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Logitech International

Several large investors have recently made changes to their positions in the company. Claro Advisors LLC increased its stake in shares of Logitech International by 6.2% in the first quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock valued at $200,000 after purchasing an additional 131 shares during the period. Blue Trust Inc. increased its stake in shares of Logitech International by 65.6% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares during the period. Naples Global Advisors LLC increased its stake in shares of Logitech International by 2.2% in the first quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company’s stock valued at $1,185,000 after purchasing an additional 291 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Logitech International by 4.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,594 shares of the technology company’s stock valued at $627,000 after purchasing an additional 297 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Logitech International by 1.6% in the first quarter. SG Americas Securities LLC now owns 19,056 shares of the technology company’s stock valued at $1,703,000 after purchasing an additional 297 shares during the period. 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.