Logitech International (NASDAQ:LOGI) Receives Underperform Rating from Bank of America

Bank of America reiterated their underperform rating on shares of Logitech International (NASDAQ:LOGI) in a research report report published on Friday morning, MarketBeat.com reports. Bank of America currently has a $90.00 price objective on the technology company’s stock, down from their prior price objective of $105.00.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. Wedbush restated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research note on Wednesday, January 22nd. Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, StockNews.com raised Logitech International from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.88.

Logitech International Trading Down 2.2 %

Shares of LOGI opened at $98.94 on Friday. The business’s fifty day simple moving average is $93.20 and its two-hundred day simple moving average is $87.73. Logitech International has a 12 month low of $74.72 and a 12 month high of $105.65. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 2.61 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. As a group, research analysts forecast that Logitech International will post 4.21 EPS for the current year.

Insider Buying and Selling at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now directly owns 7,348 shares of the company’s stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in Logitech International by 8.2% during the fourth quarter. Barclays PLC now owns 5,445,157 shares of the technology company’s stock valued at $448,409,000 after acquiring an additional 414,236 shares during the period. Vontobel Holding Ltd. raised its holdings in Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after acquiring an additional 1,240,478 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Logitech International by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company’s stock worth $341,610,000 after purchasing an additional 85,278 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Logitech International by 6.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock worth $215,127,000 after purchasing an additional 146,338 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Logitech International by 3.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company’s stock worth $219,611,000 after purchasing an additional 89,788 shares during the last quarter. 45.76% of the stock is owned by institutional investors.

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.