Wedbush Reiterates Neutral Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They presently have a $88.00 target price on the technology company’s stock. Wedbush’s price target suggests a potential upside of 8.70% from the stock’s previous close.

Several other research firms have also weighed in on LOGI. Barclays cut their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday. Loop Capital increased their target price on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Finally, StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Logitech International has an average rating of “Hold” and an average target price of $94.00.

Logitech International Stock Performance

NASDAQ LOGI opened at $80.96 on Wednesday. The firm has a market capitalization of $12.80 billion, a P/E ratio of 20.92, a PEG ratio of 2.47 and a beta of 0.79. The stock has a 50-day simple moving average of $87.38 and a two-hundred day simple moving average of $89.25. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $102.59.

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

Hedge Funds Weigh In On Logitech International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in Logitech International by 7.4% in the 2nd quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after purchasing an additional 457,630 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Logitech International by 8.0% in the second quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock valued at $157,324,000 after buying an additional 120,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Logitech International by 166.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after buying an additional 798,759 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in Logitech International by 6.7% during the second quarter. Jupiter Asset Management Ltd. now owns 601,826 shares of the technology company’s stock worth $58,214,000 after acquiring an additional 37,852 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Logitech International by 86.4% during the 1st quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company’s stock valued at $49,349,000 after acquiring an additional 255,828 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

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.