Equities researchers at Loop Capital started coverage on shares of Logitech International S.A. (NASDAQ:LOGI) in a research report issued to clients and investors on Monday, July 24th, Marketbeat reports. The firm set a “buy” rating and a $48.00 price target on the technology company’s stock. Loop Capital’s target price indicates a potential upside of 37.93% from the stock’s current price.
Several other brokerages have also issued reports on LOGI. Citigroup Inc. started coverage on Logitech International in a research note on Thursday, July 6th. They issued a “buy” rating and a $44.00 target price on the stock. Aegis started coverage on Logitech International in a research note on Tuesday, June 13th. They set a “buy” rating and a $48.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $33.98.
Shares of Logitech International (NASDAQ:LOGI) opened at 34.80 on Monday. The company has a market cap of $5.70 billion, a PE ratio of 26.22 and a beta of 0.57. Logitech International has a 1-year low of $20.97 and a 1-year high of $40.82. The firm has a 50-day moving average price of $37.05 and a 200 day moving average price of $33.49.
Logitech International (NASDAQ:LOGI) last issued its earnings results on Monday, July 24th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $529.95 million for the quarter, compared to analyst estimates of $521.24 million. Logitech International had a return on equity of 25.18% and a net margin of 9.15%. On average, equities analysts anticipate that Logitech International will post $1.47 earnings per share for the current year.
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In related news, insider Luca Guerrino De sold 15,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.04, for a total transaction of $540,600.00. Following the completion of the transaction, the insider now directly owns 321,204 shares in the company, valued at $11,576,192.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Bracken Darrell sold 49,215 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $36.32, for a total value of $1,787,488.80. Following the transaction, the chief executive officer now owns 940,542 shares of the company’s stock, valued at $34,160,485.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 319,245 shares of company stock valued at $11,549,298. 2.20% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in Logitech International by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,706 shares of the technology company’s stock worth $576,000 after buying an additional 41 shares during the last quarter. World Asset Management Inc boosted its position in Logitech International by 0.5% in the first quarter. World Asset Management Inc now owns 10,738 shares of the technology company’s stock worth $342,000 after buying an additional 58 shares during the last quarter. Comerica Bank boosted its position in Logitech International by 1.3% in the first quarter. Comerica Bank now owns 9,924 shares of the technology company’s stock worth $324,000 after buying an additional 129 shares during the last quarter. Bank of Montreal Can boosted its position in Logitech International by 3.8% in the second quarter. Bank of Montreal Can now owns 13,853 shares of the technology company’s stock worth $508,000 after buying an additional 505 shares during the last quarter. Finally, KCG Holdings Inc. boosted its position in Logitech International by 6.3% in the first quarter. KCG Holdings Inc. now owns 9,698 shares of the technology company’s stock worth $309,000 after buying an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 37.55% of the company’s stock.
Logitech International Company Profile
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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