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

StockNews.com upgraded shares of Logitech International (NASDAQ:LOGI) from a buy rating to a strong-buy rating in a research note released on Friday morning.

A number of other research firms have also recently issued reports on LOGI. JPMorgan Chase & Co. cut shares of Logitech International from an overweight rating to a neutral rating and cut their price objective for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a sell rating on shares of Logitech International in a research report on Tuesday, April 16th. Citigroup raised their price target 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. Wedbush reaffirmed a neutral rating and issued a $92.00 price target on shares of Logitech International in a research report on Tuesday, April 30th. Finally, Berenberg Bank started coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a buy rating and a $111.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $91.00.

Logitech International Trading Up 0.6 %

Shares of LOGI opened at $96.88 on Friday. The stock has a market capitalization of $15.32 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82. The firm’s fifty day simple moving average is $91.83 and its two-hundred day simple moving average is $90.20. Logitech International has a 12 month low of $57.77 and a 12 month high of $102.59.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $956.85 million. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. As a group, research analysts predict that Logitech International will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Logitech International news, CFO Charles D. Boynton acquired 1,225 shares of Logitech International stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the purchase, the chief financial officer now owns 1,225 shares of the company’s stock, valued at $99,555.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Claro Advisors LLC grew its position in shares of Logitech International by 6.2% during the 1st quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock valued at $200,000 after purchasing an additional 131 shares in the last quarter. Blue Trust Inc. grew its position 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 acquiring an additional 168 shares in the last quarter. Naples Global Advisors LLC grew its position in Logitech International by 2.2% in the first quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company’s stock worth $1,185,000 after acquiring an additional 291 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in Logitech International by 4.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,594 shares of the technology company’s stock worth $627,000 after acquiring an additional 297 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Logitech International by 1.6% in the first quarter. SG Americas Securities LLC now owns 19,056 shares of the technology company’s stock worth $1,703,000 after acquiring an additional 297 shares in the last quarter. 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.