Bank of America Reiterates "Underperform" Rating for Logitech International (NASDAQ:LOGI)

Bank of America reaffirmed their underperform rating on shares of Logitech International (NASDAQ:LOGI - Free Report) in a research note published on Friday morning, Marketbeat.com reports. Bank of America currently has a $90.00 price target on the technology company's stock, down from their previous price target of $105.00.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Logitech International from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Wedbush reissued a "neutral" rating and issued a $88.00 price objective on shares of Logitech International in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Finally, UBS Group upgraded Logitech International from a "sell" rating to a "neutral" rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $96.88.

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Logitech International Trading Down 1.8 %

NASDAQ LOGI traded down $1.80 on Friday, hitting $95.74. 893,562 shares of the company were exchanged, compared to its average volume of 535,651. The company has a market cap of $15.14 billion, a PE ratio of 22.47, a PEG ratio of 2.61 and a beta of 0.78. The stock has a fifty day moving average of $93.50 and a 200-day moving average of $87.79. Logitech International has a 12 month low of $74.72 and a 12 month high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, analysts expect that Logitech International will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its position in Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock worth $451,426,000 after buying an additional 1,967,133 shares during the last quarter. Norges Bank purchased a new stake in Logitech International in the 4th quarter worth about $156,888,000. Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 1,385,493 shares during the period. Vontobel Holding Ltd. lifted its holdings in Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock valued at $402,802,000 after purchasing an additional 1,240,478 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company's stock worth $61,978,000 after purchasing an additional 655,025 shares in the last quarter. Institutional investors own 45.76% of the company's stock.

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.