Wedbush Reiterates Neutral Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $88.00 price objective on the technology company’s stock. Wedbush’s price objective points to a potential upside of 8.21% from the company’s previous close.

A number of other research firms have also recently weighed in on LOGI. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Barclays lowered their price target on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Loop Capital raised their price target on shares of Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $92.86.

Logitech International Stock Performance

Logitech International stock traded down $2.67 during midday trading on Wednesday, hitting $81.32. 807,139 shares of the company’s stock were exchanged, compared to its average volume of 487,969. Logitech International has a 12 month low of $74.00 and a 12 month high of $102.59. The firm has a 50-day moving average of $87.70 and a two-hundred day moving average of $89.37. The company has a market cap of $12.86 billion, a PE ratio of 21.01, a P/E/G ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. As a group, equities analysts expect that Logitech International will post 3.96 earnings per share for the current year.

Institutional Investors Weigh In On Logitech International

Institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in Logitech International in the 2nd quarter valued at $35,000. Employees Retirement System of Texas acquired a new stake in Logitech International in the 2nd quarter valued at $63,000. Benjamin F. Edwards & Company Inc. grew its stake in Logitech International by 139.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after acquiring an additional 495 shares during the period. Blue Trust Inc. grew its stake in Logitech International by 2,036.8% in the 2nd quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,385 shares during the period. Finally, Syquant Capital Sas acquired a new stake in Logitech International during the 2nd quarter worth $184,000. 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.