Logitech International (NASDAQ:LOGI) Stock Gets Price Target Increase from Barclays

Logitech International (NASDAQ:LOGI) had its target price hoisted by equities researchers at Barclays from $101.00 to $110.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 10.80% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Wall Street Zen upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research note on Tuesday, June 30th. Wedbush lowered their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lowered their target price on Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $105.43.

Logitech International Stock Down 11.2%

LOGI traded down $12.55 during trading on Wednesday, hitting $99.27. 1,281,233 shares of the stock were exchanged, compared to its average volume of 1,083,541. The firm has a market capitalization of $14.55 billion, a P/E ratio of 18.23 and a beta of 1.14. Logitech International has a 1-year low of $83.32 and a 1-year high of $129.66. The stock has a fifty day moving average price of $102.01 and a two-hundred day moving average price of $99.71.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, October 27th. The technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Logitech International’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 EPS. Analysts predict that Logitech International will post 5.14 EPS for the current year.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the transaction, the insider directly owned 37,097 shares of the company’s stock, valued at $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Logitech International

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strengthening Families & Communities LLC purchased a new position in Logitech International in the third quarter valued at approximately $44,000. MassMutual Private Wealth & Trust FSB acquired a new position in Logitech International during the third quarter valued at approximately $64,000. Fifth Third Bancorp grew its stake 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 buying an additional 145 shares during the period. Rockefeller Capital Management L.P. grew its stake in Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after buying an additional 114 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Logitech International during the second quarter worth approximately $115,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International News Roundup

Here are the key news stories impacting Logitech International this week:

• Positive Sentiment: Logitech reported adjusted earnings of $1.51 per share, above the $1.34 analyst consensus, while revenue of $1.22 billion exceeded estimates of $1.21 billion and increased 2.8% year over year. Logitech Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Growth in gaming and conferencing products supported the quarterly sales performance, and non-GAAP earnings and revenue rose from the prior-year period. Logitech beats profit forecast as sales of gaming and conferencing products rise
• Neutral Sentiment: Management issued a third-quarter outlook, giving investors new guidance to assess against current expectations, while analysts’ average price target was recently reported at $104.14. Logitech Fiscal Q2 Non-GAAP Earnings, Revenue Rise; Issues Q3 Outlook
• Negative Sentiment: Despite the adjusted earnings beat, reported earnings were lower than a year earlier, and investors focused on weaker GAAP profitability. The difference between GAAP and non-GAAP results raised concerns about the underlying quality of the earnings beat. Why Logitech Stock Crashed After Earnings
• Negative Sentiment: Analysts highlighted margin pressure and profit-taking, causing the strong headline results to be viewed as insufficient to support the stock’s valuation. The company also posted particularly weak free cash flow, adding to concerns about cash generation. Logitech sheds market value as margin concerns overshadow profit beat

About Logitech International

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.