Logitech International S.A. (NASDAQ:LOGI) Receives $100.14 Consensus Target Price from Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $100.14.

LOGI has been the subject of a number of research reports. Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and upped their price target for the company from $100.00 to $125.00 in a research report on Friday, March 7th. Citigroup lifted their price objective on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Bank of America reissued an “underperform” rating and set a $90.00 target price (down from $105.00) on shares of Logitech International in a report on Friday, February 28th.

Logitech International Stock Down 1.9 %

Shares of LOGI opened at $86.95 on Friday. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.61 and a beta of 0.73. The business’s 50 day moving average is $96.14 and its two-hundred day moving average is $88.11. Logitech International has a 52-week low of $74.72 and a 52-week high of $105.65.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, equities analysts expect that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has authorized a share buyback program on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Logitech International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in Logitech International by 64.2% during the 3rd 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 during the period. Norges Bank acquired a new stake in Logitech International in the fourth quarter worth about $156,888,000. Assenagon Asset Management S.A. grew its position in Logitech International by 2,315.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after buying an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after buying an additional 1,240,478 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Logitech International by 700.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after buying an additional 655,025 shares in 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.