Logitech International (NASDAQ:LOGI) Rating Reiterated by Wedbush

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating restated by Wedbush in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $92.00 target price on the technology company’s stock. Wedbush’s target price would indicate a potential upside of 16.44% from the company’s current price.

LOGI has been the subject of several other reports. Barclays lifted their target price on Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Citigroup lifted their target price on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Berenberg Bank assumed coverage on Logitech International in a research note on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective for the company. Finally, StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.00.

Logitech International Price Performance

LOGI stock opened at $79.01 on Tuesday. The business has a fifty day moving average price of $86.82 and a 200 day moving average price of $86.55. 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 $12.50 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 1.65 and a beta of 0.74.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. On average, equities analysts expect that Logitech International will post 3.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of Logitech International stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the transaction, the chief operating officer now directly owns 61,056 shares in the company, valued at $5,495,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Logitech International news, insider Samantha Harnett sold 650 shares of Logitech International 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 transaction, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Prakash Arunkundrum sold 23,023 shares of Logitech International stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the transaction, the chief operating officer now owns 61,056 shares in the company, valued at $5,495,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,572 shares of company stock worth $2,207,555. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Logitech International

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Logitech International by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock valued at $585,478,000 after purchasing an additional 84,179 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after acquiring an additional 121,060 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 valued at $267,457,000 after acquiring an additional 760,263 shares during the last quarter. Norges Bank acquired a new stake in shares of Logitech International in the fourth quarter valued at about $214,130,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Logitech International by 20.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after acquiring an additional 306,948 shares during the last quarter. 45.76% of the stock is currently owned by 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.