Logitech International (NASDAQ:LOGI) Rating Increased to Strong-Buy at StockNews.com

Logitech International (NASDAQ:LOGI) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

LOGI has been the topic of several other research reports. Morgan Stanley reiterated an “underweight” rating and issued a $75.00 price target (down previously from $85.00) on shares of Logitech International in a report on Monday, April 15th. Wedbush reiterated a “neutral” rating and set a $92.00 price target on shares of Logitech International in a research report on Tuesday, April 30th. Citigroup boosted their price target on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Berenberg Bank started coverage on shares of Logitech International in a research note on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut shares of Logitech International from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $85.00 in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.00.

Logitech International Price Performance

Logitech International stock opened at $96.88 on Friday. The business has a 50 day simple moving average of $91.83 and a 200 day simple moving average of $90.22. Logitech International has a one year low of $57.77 and a one year high of $102.59. The company has a market capitalization of $15.32 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.97 and a beta of 0.82.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $956.85 million. Equities analysts anticipate that Logitech International will post 3.85 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Charles D. Boynton purchased 1,225 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now directly owns 1,225 shares in the company, valued at approximately $99,555.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. bought a new stake in Logitech International in the 4th quarter valued at about $33,000. Global Retirement Partners LLC grew its position in Logitech International by 764.4% during the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock worth $35,000 after buying an additional 344 shares in the last quarter. Blue Trust Inc. increased its stake in Logitech International by 65.6% during the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after acquiring an additional 168 shares during the period. National Bank of Canada FI raised its holdings in Logitech International by 529.4% in the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after acquiring an additional 360 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Logitech International during the 1st quarter valued at $42,000. 45.76% of the stock is owned by 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.