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

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a report released on Tuesday, Benzinga reports. They currently have a $92.00 target price on the technology company’s stock. Wedbush’s target price points to a potential upside of 15.85% from the company’s current price.

LOGI has been the topic of a number of other research reports. Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 price target (down previously from $85.00) on shares of Logitech International in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. Barclays lifted their price objective on shares of Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Citigroup lifted their price objective on shares of Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus price target of $92.43.

Logitech International Stock Performance

Shares of LOGI stock opened at $79.41 on Tuesday. Logitech International has a one year low of $53.91 and a one year high of $96.66. The company’s 50-day moving average is $87.60 and its 200 day moving average is $86.27. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.74.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Monday, January 22nd. The technology company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.00 by $0.43. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. As a group, research analysts predict that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Prakash Arunkundrum sold 699 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the sale, the chief operating officer now directly owns 67,848 shares of the company’s stock, valued at $6,106,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock valued at $2,207,555 over the last three months. 0.15% of the stock is owned by company insiders.

Institutional Trading of Logitech International

Large investors have recently made changes to their positions in the stock. Impact Partnership Wealth LLC purchased a new stake in shares of Logitech International during the third quarter valued at $25,000. Benjamin F. Edwards & Company Inc. bought a new position in Logitech International in the fourth quarter worth about $33,000. Global Retirement Partners LLC raised its holdings in Logitech International by 764.4% in the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock worth $35,000 after purchasing an additional 344 shares in the last quarter. Blue Trust Inc. raised its holdings in Logitech International by 65.6% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after purchasing an additional 168 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Logitech International by 529.4% in the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after purchasing an additional 360 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.