Wedbush Reaffirms Neutral Rating for Logitech International (NASDAQ:LOGI)

Wedbush restated their neutral rating on shares of Logitech International (NASDAQ:LOGI) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $92.00 target price on the technology company’s stock.

LOGI has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a sell rating on shares of Logitech International in a research note on Tuesday, April 16th. Berenberg Bank initiated coverage on Logitech International in a research note on Thursday, March 14th. They issued a buy rating and a $111.00 price objective for the company. Morgan Stanley reissued an underweight rating and set a $75.00 target price (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Citigroup increased their target price on shares of Logitech International from $98.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Finally, StockNews.com downgraded shares of Logitech International from a strong-buy rating to a buy rating in a research report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Logitech International currently has a consensus rating of Hold and an average price target of $92.43.

Logitech International Trading Down 0.9 %

Shares of NASDAQ LOGI opened at $78.72 on Tuesday. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.66 and a beta of 0.74. Logitech International has a 12 month low of $53.91 and a 12 month high of $96.66. The stock has a 50-day moving average price of $87.44 and a two-hundred day moving average price of $86.22.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Monday, January 22nd. The technology company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.00 by $0.43. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. On average, sell-side analysts predict that Logitech International will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction that occurred on 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 approximately $5,495,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction that occurred on 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 approximately $5,495,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Harnett sold 650 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares in the company, valued at $1,002,464.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock worth $2,207,555. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

A number of large 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 4th quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after purchasing an additional 84,179 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Logitech International by 2.3% in the 4th quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after purchasing an additional 121,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Logitech International by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after purchasing an additional 760,263 shares in the last quarter. Norges Bank purchased a new stake in Logitech International in the 4th quarter valued at $214,130,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Logitech International by 20.1% in the 4th 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 buying 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.