Wall Street Zen Upgrades Logitech International (NASDAQ:LOGI) to “Buy”

Logitech International (NASDAQ:LOGI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research firms have also recently issued reports on LOGI. Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a research report on Wednesday, August 19th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a research report on Tuesday, June 30th. Morgan Stanley cut their price target on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price target on Logitech International from $120.00 to $102.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Barclays lowered their price target on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Logitech International currently has an average rating of “Hold” and an average price target of $105.29.

Logitech International Trading Down 0.1%

LOGI stock traded down $0.06 during midday trading on Friday, reaching $97.96. The company had a trading volume of 480,156 shares, compared to its average volume of 802,255. Logitech International has a 1 year low of $83.32 and a 1 year high of $129.66. The company has a market capitalization of $14.36 billion, a P/E ratio of 17.97, a PEG ratio of 3.64 and a beta of 1.17. The company has a 50 day moving average of $101.30 and a two-hundred day moving average of $99.86.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $1.26 EPS. Logitech International’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Logitech International will post 5.15 earnings per share for the current year.

Institutional Trading of Logitech International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Logitech International during the 3rd quarter worth about $30,000. CIBC Private Wealth Group LLC raised its stake in shares of Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after acquiring an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Logitech International by 40.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after acquiring an additional 165 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Logitech International by 911.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after purchasing an additional 611 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Logitech International by 19.1% during the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

About Logitech International

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.