Logitech International S.A. (NASDAQ:LOGI) Receives Consensus Rating of “Hold” from Analysts

Shares of Logitech International S.A. (NASDAQ:LOGI) have been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $93.00.

LOGI has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Barclays lowered their price target on Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Loop Capital reduced their price objective on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Wedbush reissued a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a report on Wednesday, October 23rd.

Insider Activity

In related news, Director Guy Gecht purchased 2,500 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the acquisition, the director now directly owns 18,503 shares in the company, valued at $1,500,963.36. This trade represents a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LOGI. Barclays PLC increased its stake in Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after acquiring an additional 1,967,133 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Logitech International by 166.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after purchasing an additional 798,759 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Logitech International by 7.4% in the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after buying an additional 457,630 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Logitech International during the third quarter valued at approximately $15,891,000. Finally, Marshall Wace LLP grew its stake in Logitech International by 57.3% during the second quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after buying an additional 164,307 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $77.60 on Friday. Logitech International has a one year low of $74.72 and a one year high of $102.59. The firm has a market capitalization of $12.27 billion, a P/E ratio of 17.28, a PEG ratio of 1.75 and a beta of 0.81. The company’s fifty day moving average is $84.44 and its two-hundred day moving average is $89.23.

Logitech International Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th were paid a $1.3687 dividend. This represents a yield of 1.4%. This is a positive change from Logitech International’s previous annual dividend of $1.19. The ex-dividend date was Tuesday, September 24th. Logitech International’s dividend payout ratio (DPR) is presently 11.63%.

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.