Bank of America Reaffirms “Underperform” Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “underperform” rating restated by stock analysts at Bank of America in a research report issued on Friday. They currently have a $90.00 price target on the technology company’s stock, down from their prior price target of $105.00. Bank of America‘s price objective suggests a potential downside of 11.08% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Barclays boosted their price objective on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Logitech International has a consensus rating of “Hold” and an average price target of $96.88.

Logitech International Stock Down 3.5 %

Logitech International stock opened at $101.21 on Friday. The company’s 50 day moving average is $92.86 and its two-hundred day moving average is $87.65. The firm has a market cap of $16.01 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.78. Logitech International has a 52-week low of $74.72 and a 52-week high of $105.65.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, equities research analysts anticipate that Logitech International will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 300 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the transaction, the insider now owns 7,348 shares in the company, valued at $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Trading of Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Janney Montgomery Scott LLC lifted its holdings in shares of Logitech International by 4,876.3% during 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. SpiderRock Advisors LLC acquired a new stake in Logitech International during the 3rd quarter worth about $1,431,000. Assetmark Inc. lifted its stake in Logitech International by 6,766.2% during the third quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock valued at $4,418,000 after buying an additional 48,514 shares in the last quarter. Summit Global Investments acquired a new position in shares of Logitech International in the third quarter worth about $1,299,000. Finally, Strengthening Families & Communities LLC increased its position in shares of Logitech International by 9.2% in the third quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock worth $404,000 after acquiring an additional 378 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

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.