Logitech International (NASDAQ:LOGI) Downgraded by StockNews.com

StockNews.com cut shares of Logitech International (NASDAQ:LOGI) from a strong-buy rating to a buy rating in a research report sent to investors on Monday morning.

LOGI has been the topic of several other reports. JPMorgan Chase & Co. downgraded Logitech International from an overweight rating to a neutral rating and dropped their price target for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. Citigroup boosted their price objective on shares of Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Morgan Stanley reiterated an underweight rating and issued a $75.00 target price (down previously from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft restated a sell rating on shares of Logitech International in a research note on Tuesday, April 16th. Finally, Wedbush reiterated a neutral rating and set a $88.00 price target on shares of Logitech International in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $90.57.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $88.64 on Monday. The business has a 50 day simple moving average of $95.46 and a 200 day simple moving average of $90.07. Logitech International has a 52 week low of $65.31 and a 52 week high of $102.59. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.83 and a beta of 0.80.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.34. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. On average, analysts predict that Logitech International will post 3.86 EPS for the current year.

Insider Buying and Selling

In other Logitech International news, CFO Charles D. Boynton bought 1,225 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now owns 1,225 shares in the company, valued at approximately $99,555.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LOGI. Acadian Asset Management LLC lifted its stake in shares of Logitech International by 32.7% during the first quarter. Acadian Asset Management LLC now owns 6,207,484 shares of the technology company’s stock valued at $556,523,000 after acquiring an additional 1,527,984 shares during the period. Vanguard Group Inc. boosted its stake in Logitech International by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after acquiring an additional 84,179 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Logitech International by 2.3% during the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after purchasing an additional 121,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Logitech International by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after purchasing an additional 760,263 shares during the period. Finally, Norges Bank acquired a new position in shares of Logitech International in the 4th quarter valued at $214,130,000. 45.76% of the stock is currently 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.