StockNews.com Downgrades Logitech International (NASDAQ:LOGI) to Hold

Logitech International (NASDAQ:LOGI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Barclays upped their price target on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Bank of America restated an “underperform” rating and issued a $90.00 price objective (down previously from $105.00) on shares of Logitech International in a research note on Friday. Finally, UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $96.88.

Logitech International Trading Down 1.4 %

NASDAQ LOGI traded down $1.40 during trading on Monday, hitting $97.54. 581,442 shares of the company traded hands, compared to its average volume of 534,246. The company has a market capitalization of $15.43 billion, a P/E ratio of 22.90, a PEG ratio of 2.61 and a beta of 0.78. The business has a fifty day simple moving average of $93.50 and a 200 day simple moving average of $87.79. Logitech International has a 12 month low of $74.72 and a 12 month high of $105.65.

Logitech International (NASDAQ:LOGI) last posted its earnings results 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 return on equity of 30.53% and a net margin of 14.38%. Equities research analysts predict that Logitech International will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction 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 trade represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in shares of Logitech International by 4,876.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock worth $13,798,000 after purchasing an additional 164,185 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in Logitech International during the third quarter worth about $1,431,000. Assetmark Inc. increased its holdings in shares of Logitech International by 6,766.2% during the third quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock worth $4,418,000 after buying an additional 48,514 shares in the last quarter. Strengthening Families & Communities LLC increased its holdings in shares of Logitech International by 9.2% during the third quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock worth $404,000 after buying an additional 378 shares in the last quarter. Finally, Summit Global Investments bought a new position in shares of Logitech International in the third quarter valued at approximately $1,299,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

About Logitech International

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.