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

Logitech International S.A. (NASDAQ:LOGI) has been assigned an average rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three 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 $100.14.

LOGI has been the subject of several analyst reports. Citigroup boosted their target price on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Bank of America reissued an “underperform” rating and set a $90.00 price target (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. Finally, Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $125.00 in a research report on Friday, March 7th.

Insider Activity

In related 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 sale, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in Logitech International by 4,876.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock worth $13,798,000 after acquiring an additional 164,185 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Logitech International by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock valued at $1,455,000 after purchasing an additional 1,206 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Logitech International by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company’s stock worth $28,913,000 after purchasing an additional 18,986 shares in the last quarter. US Bancorp DE boosted its stake in shares of Logitech International by 5.6% in the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock valued at $687,000 after purchasing an additional 446 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in Logitech International during the 3rd quarter valued at $12,597,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $86.95 on Friday. The firm’s 50-day moving average is $96.14 and its two-hundred day moving average is $88.11. Logitech International has a 12-month low of $74.72 and a 12-month high of $105.65. The company has a market capitalization of $13.75 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73.

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

Logitech International announced that its board has initiated a stock repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.