Logitech International (NASDAQ:LOGI) Earns “Sell” Rating from Deutsche Bank Aktiengesellschaft

Logitech International (NASDAQ:LOGI)‘s stock had its “sell” rating reiterated by research analysts at Deutsche Bank Aktiengesellschaft in a report released on Tuesday, MarketBeat reports.

LOGI has been the subject of several other reports. Barclays lifted their price target on shares of Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Wedbush reissued a “neutral” rating and set a $92.00 price target on shares of Logitech International in a report on Monday, March 18th. Citigroup boosted their target price on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Morgan Stanley reiterated an “underweight” rating and set a $75.00 price target (down previously from $85.00) on shares of Logitech International in a research report on Monday. Finally, StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.43.

Logitech International Price Performance

NASDAQ:LOGI traded down $1.94 during midday trading on Tuesday, reaching $79.32. The stock had a trading volume of 713,520 shares, compared to its average volume of 443,593. Logitech International has a 1-year low of $53.91 and a 1-year high of $96.66. The firm’s fifty day simple moving average is $88.35 and its 200-day simple moving average is $85.90. The stock has a market capitalization of $12.54 billion, a P/E ratio of 26.05, a PEG ratio of 1.79 and a beta of 0.74.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.43. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. On average, equities research analysts anticipate that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Prakash Arunkundrum sold 23,023 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the transaction, the chief operating officer now directly owns 61,056 shares in the company, valued at $5,495,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Prakash Arunkundrum sold 23,023 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the transaction, the chief operating officer now directly owns 61,056 shares in the company, valued at $5,495,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction 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. Insiders have sold 24,572 shares of company stock valued at $2,207,555 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LOGI. Vanguard Group Inc. raised its holdings in Logitech International by 1.4% during 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 during the last quarter. Vontobel Holding Ltd. raised its holdings in Logitech International by 2.3% during 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 during the last quarter. Norges Bank bought a new position in Logitech International during the 4th quarter worth approximately $238,096,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Logitech International by 36.9% during 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 during the last quarter. Finally, Invesco Ltd. raised its holdings in Logitech International by 24.0% during the 1st quarter. Invesco Ltd. now owns 2,409,946 shares of the technology company’s stock worth $177,807,000 after purchasing an additional 466,632 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

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.