Logitech International S.A. (NASDAQ:LOGI) Receives Average Recommendation of “Hold” from Brokerages

Logitech International S.A. (NASDAQ:LOGI) has been given a consensus rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $93.14.

Several research firms have commented on LOGI. Barclays upped their price objective on Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Loop Capital increased their price target on Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Wedbush restated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research report on Tuesday, July 16th.

Logitech International Trading Down 1.1 %

Shares of LOGI opened at $84.90 on Tuesday. The company’s 50 day simple moving average is $89.98 and its 200-day simple moving average is $90.06. The firm has a market cap of $13.43 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.64 and a beta of 0.79. Logitech International has a 12-month low of $65.31 and a 12-month high of $102.59.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. As a group, equities research analysts forecast that Logitech International will post 3.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Logitech International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in Logitech International by 21.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 41,170 shares of the technology company’s stock worth $3,989,000 after buying an additional 7,400 shares in the last quarter. Aristides Capital LLC purchased a new stake in shares of Logitech International during the 2nd quarter worth approximately $287,000. Cetera Investment Advisers grew its holdings in shares of Logitech International by 14.1% in the 2nd quarter. Cetera Investment Advisers now owns 13,882 shares of the technology company’s stock worth $1,345,000 after acquiring an additional 1,717 shares during the period. Creative Planning increased its stake in Logitech International by 5.1% in the 2nd quarter. Creative Planning now owns 28,611 shares of the technology company’s stock valued at $2,772,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Maverick Capital Ltd. raised its holdings in Logitech International by 36.9% during the second quarter. Maverick Capital Ltd. now owns 24,666 shares of the technology company’s stock worth $2,386,000 after purchasing an additional 6,642 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

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.