Logitech International (NASDAQ:LOGI) Rating Lowered to "Hold" at StockNews.com

StockNews.com downgraded shares of Logitech International (NASDAQ:LOGI - Free Report) from a buy rating to a hold rating in a research report report published on Monday morning.

A number of other brokerages also recently weighed in on LOGI. JPMorgan Chase & Co. increased their price objective on shares of Logitech International from $99.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Citigroup boosted their price target on Logitech International from $92.00 to $105.00 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 report on Thursday, January 30th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $90.00 target price (down from $105.00) on shares of Logitech International in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $101.50.

Remove Ads

Logitech International Stock Performance

Shares of Logitech International stock traded up $1.17 during midday trading on Monday, hitting $97.67. The company had a trading volume of 824,226 shares, compared to its average volume of 538,235. Logitech International has a 52-week low of $74.72 and a 52-week high of $105.65. The company has a 50 day moving average of $94.30 and a 200 day moving average of $87.96. The stock has a market capitalization of $15.45 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating 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%. Equities research analysts forecast that Logitech International will post 4.21 EPS for the current year.

Logitech International declared that its board has approved a stock repurchase program on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Logitech International

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the completion of the transaction, the insider now directly owns 7,348 shares of the company's stock, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On Logitech International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Banque Transatlantique SA purchased a new stake in shares of Logitech International during the fourth quarter valued at $26,000. Sierra Ocean LLC purchased a new position in shares of Logitech International during the fourth quarter worth approximately $27,000. Bessemer Group Inc. increased its holdings in Logitech International by 1,339.1% during the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after purchasing an additional 308 shares during the period. Exane Asset Management bought a new stake in Logitech International during the 4th quarter valued at $32,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after buying an additional 439 shares during the period. 45.76% of the stock is currently owned by hedge funds and other 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.