StockNews.com Upgrades Logitech International (NASDAQ:LOGI) to Buy

Logitech International (NASDAQ:LOGI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

LOGI has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Loop Capital lowered their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Barclays upped their price objective on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Citigroup boosted their target price on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $97.13.

Logitech International Trading Up 2.0 %

NASDAQ:LOGI traded up $2.01 during mid-day trading on Wednesday, hitting $100.57. The stock had a trading volume of 835,214 shares, compared to its average volume of 934,309. Logitech International has a twelve month low of $74.72 and a twelve month high of $102.59. The stock has a 50-day simple moving average of $86.61 and a two-hundred day simple moving average of $85.97. The company has a market capitalization of $15.91 billion, a PE ratio of 23.61, a PEG ratio of 3.00 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that Logitech International will post 4.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the transaction, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Logitech International

A number of large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in Logitech International by 25.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,154 shares of the technology company’s stock valued at $178,000 after buying an additional 440 shares in the last quarter. US Bancorp DE grew its holdings in shares of Logitech International by 5.6% in the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock worth $687,000 after acquiring an additional 446 shares during the period. Mutual of America Capital Management LLC increased its stake in Logitech International by 5.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 80,591 shares of the technology company’s stock valued at $6,655,000 after purchasing an additional 4,221 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Logitech International by 3.2% during the fourth quarter. QRG Capital Management Inc. now owns 38,212 shares of the technology company’s stock worth $3,147,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Todd Asset Management LLC boosted its position in Logitech International by 6.7% during the fourth quarter. Todd Asset Management LLC now owns 39,570 shares of the technology company’s stock worth $3,259,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors 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.