Citigroup Boosts Logitech International (NASDAQ:LOGI) Price Target to $105.00

Logitech International (NASDAQ:LOGI) had its price target raised by research analysts at Citigroup from $92.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 12.95% from the stock’s previous close.

A number of other equities analysts also recently weighed in on LOGI. Wedbush reaffirmed a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research note on Wednesday, January 22nd. Bank of America lowered Logitech International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $114.00 to $92.00 in a research report on Monday, December 16th. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Loop Capital dropped their price target on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and a consensus target price of $97.00.

Logitech International Stock Up 1.1 %

Shares of NASDAQ:LOGI opened at $92.96 on Wednesday. The company has a market cap of $14.70 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.74 and a beta of 0.77. The business has a fifty day simple moving average of $84.41 and a 200-day simple moving average of $85.62. Logitech International has a 52 week low of $74.72 and a 52 week high of $102.59.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.68% and a net margin of 15.65%. Sell-side analysts expect that Logitech International will post 4.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Logitech International

Large investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after buying an additional 1,967,133 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after acquiring an additional 1,385,493 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Logitech International in the third quarter worth about $15,891,000. Janney Montgomery Scott LLC boosted its holdings in Logitech International by 4,876.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock valued at $13,798,000 after purchasing an additional 164,185 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in Logitech International during the 3rd quarter valued at approximately $12,597,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.