Citigroup Raises Logitech International (NASDAQ:LOGI) Price Target to $105.00

Logitech International (NASDAQ:LOGI) had its price target hoisted by Citigroup from $92.00 to $105.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also issued reports on LOGI. Wedbush reiterated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a report on Wednesday, January 22nd. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Loop Capital decreased their price objective on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. Bank of America cut shares of Logitech International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $114.00 to $92.00 in a report on Monday, December 16th. Finally, UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.13.

Logitech International Trading Down 1.9 %

Shares of NASDAQ:LOGI opened at $97.42 on Wednesday. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 3.01 and a beta of 0.77. Logitech International has a 12 month low of $74.72 and a 12 month high of $102.59. The firm’s 50-day moving average is $85.54 and its 200 day moving average is $85.83.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.20%. As a group, equities analysts forecast that Logitech International will post 4.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after acquiring an additional 1,967,133 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Logitech International by 34.2% in the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock worth $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Logitech International by 3.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company’s stock valued at $219,611,000 after purchasing an additional 89,788 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after buying an additional 1,385,493 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Logitech International by 1.8% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,097,951 shares of the technology company’s stock worth $98,348,000 after buying an additional 19,046 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

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.