Logitech International’s (LOGI) “Sell” Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their sell rating on shares of Logitech International (NASDAQ:LOGI) in a research note released on Tuesday, MarketBeat reports.

LOGI has been the topic of several other research reports. Morgan Stanley restated an underweight rating and issued a $75.00 price target (down previously from $85.00) on shares of Logitech International in a research report on Monday. Berenberg Bank began coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a buy rating and a $111.00 price objective on the stock. Barclays boosted 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. StockNews.com cut shares of Logitech International from a strong-buy rating to a buy rating in a research report on Thursday, March 14th. Finally, Citigroup boosted 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Logitech International currently has a consensus rating of Hold and an average price target of $92.43.

Logitech International Stock Performance

Shares of LOGI opened at $78.08 on Tuesday. The company’s fifty day moving average is $88.02 and its 200 day moving average is $85.87. Logitech International has a fifty-two week low of $53.91 and a fifty-two week high of $96.66. The stock has a market capitalization of $12.35 billion, a PE ratio of 25.52, a P/E/G ratio of 1.63 and a beta of 0.74.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share for the quarter, topping 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 analysts’ expectations of $1.23 billion. As a group, research analysts forecast that Logitech International will post 3.44 earnings per share for the current year.

Insider Activity

In other news, 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 completion of the sale, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of 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. Over the last ninety days, insiders sold 24,572 shares of company stock valued at $2,207,555. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Logitech International

Hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. lifted its stake in Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after acquiring an additional 121,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Logitech International by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after acquiring an additional 760,263 shares during the period. Allworth Financial LP lifted its position in shares of Logitech International by 249.1% during the third quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock valued at $52,000 after buying an additional 538 shares during the last quarter. Qtron Investments LLC purchased a new stake in shares of Logitech International during the third quarter valued at about $585,000. Finally, Tudor Investment Corp Et Al lifted its position in shares of Logitech International by 73.3% during the third quarter. Tudor Investment Corp Et Al now owns 58,914 shares of the technology company’s stock valued at $4,062,000 after buying an additional 24,923 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Company Profile

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.