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

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

Several other brokerages have also commented on LOGI. JPMorgan Chase & Co. cut shares of Logitech International from an overweight rating to a neutral rating and cut their price objective for the company from $92.00 to $85.00 in a research note on Wednesday, May 1st. Wedbush reaffirmed a neutral rating and set a $92.00 price objective on shares of Logitech International in a research report on Tuesday, April 30th. Morgan Stanley reaffirmed an underweight rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Citigroup raised their target price on Logitech International from $98.00 to $100.00 and gave the company a neutral rating in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a sell rating on shares of Logitech International in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Logitech International has a consensus rating of Hold and an average price target of $90.43.

Logitech International Stock Up 0.1 %

NASDAQ LOGI opened at $92.49 on Friday. Logitech International has a 52 week low of $62.73 and a 52 week high of $102.59. The firm has a market cap of $14.63 billion, a PE ratio of 23.90, a P/E/G ratio of 2.85 and a beta of 0.80. The business’s fifty day simple moving average is $95.05 and its 200-day simple moving average is $90.20.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.55 by $0.34. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. Research analysts expect that Logitech International will post 3.86 EPS for the current year.

Insider Buying and Selling at Logitech International

In other news, CFO Charles D. Boynton acquired 1,225 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $81.27 per share, with a total value of $99,555.75. Following the acquisition, the chief financial officer now directly owns 1,225 shares in the company, valued at approximately $99,555.75. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Logitech International in the 4th quarter valued at about $33,000. Global Retirement Partners LLC grew its holdings in Logitech International by 764.4% during the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock worth $35,000 after buying an additional 344 shares in the last quarter. Blue Trust Inc. raised its holdings 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 last quarter. National Bank of Canada FI lifted its position in shares of Logitech International by 529.4% during the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after buying an additional 360 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in Logitech International during the first quarter worth $42,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

About Logitech International

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.