Logitech International (NASDAQ:LOGI) Rating Reiterated by Morgan Stanley

Logitech International (NASDAQ:LOGI)‘s stock had its “underweight” rating reaffirmed by equities researchers at Morgan Stanley in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $75.00 target price on the technology company’s stock, down from their previous target price of $85.00. Morgan Stanley’s price objective points to a potential downside of 5.89% from the company’s current price.

Several other brokerages also recently commented on LOGI. Citigroup lifted their target price on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Wedbush reiterated a “neutral” rating and issued a $92.00 target price on shares of Logitech International in a report on Monday, March 18th. Barclays lifted their target price on shares of Logitech International from $96.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Berenberg Bank assumed coverage on shares of Logitech International in a report on Thursday, March 14th. They issued a “buy” rating and a $111.00 target price on the stock. Finally, StockNews.com downgraded 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 issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.43.

Logitech International Trading Down 1.9 %

LOGI stock opened at $79.69 on Monday. Logitech International has a 1 year low of $53.91 and a 1 year high of $96.66. The company has a fifty day simple moving average of $88.24 and a 200 day simple moving average of $85.98. The firm has a market cap of $12.60 billion, a PE ratio of 26.04, a PEG ratio of 1.79 and a beta of 0.74.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.43. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, analysts forecast that Logitech International will post 3.44 EPS for the current fiscal year.

Insider Transactions at Logitech International

In related news, 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 value of $54,710.50. Following the sale, the insider now owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.00, for a total value of $62,910.00. Following the sale, the chief operating officer now owns 67,848 shares of the company’s stock, valued at $6,106,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Samantha Harnett sold 650 shares of the business’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. In the last 90 days, insiders have sold 24,572 shares of company stock worth $2,207,555. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Logitech International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Logitech International by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock valued at $585,478,000 after buying an additional 84,179 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after buying an additional 121,060 shares in the last quarter. Norges Bank acquired a new position in Logitech International in the fourth quarter valued at about $238,096,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Logitech International by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock valued at $267,457,000 after buying an additional 760,263 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Logitech International by 24.0% in the first quarter. Invesco Ltd. now owns 2,409,946 shares of the technology company’s stock valued at $177,807,000 after buying an additional 466,632 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Company Profile

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.