Bank of America Reiterates Underperform Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “underperform” rating reiterated by analysts at Bank of America in a research report issued on Friday, MarketBeat reports. They currently have a $90.00 price target on the technology company’s stock, down from their previous price target of $105.00. Bank of America‘s target price would suggest a potential downside of 9.04% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wedbush reiterated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $96.88.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $98.94 on Friday. Logitech International has a 1-year low of $74.72 and a 1-year high of $105.65. The company has a market capitalization of $15.65 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.61 and a beta of 0.78. The firm’s 50 day simple moving average is $93.20 and its two-hundred day simple moving average is $87.73.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating 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, sell-side analysts anticipate that Logitech International will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Logitech International

Several large investors have recently bought and sold shares of the business. Employees Retirement System of Texas increased its position in Logitech International by 89.2% in the fourth quarter. Employees Retirement System of Texas now owns 1,232 shares of the technology company’s stock worth $101,000 after purchasing an additional 581 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in Logitech International by 2.7% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 32,188 shares of the technology company’s stock worth $2,651,000 after buying an additional 834 shares during the period. Mackenzie Financial Corp boosted its stake in Logitech International by 40.1% during the fourth quarter. Mackenzie Financial Corp now owns 36,618 shares of the technology company’s stock worth $3,015,000 after buying an additional 10,474 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Logitech International by 1.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,734 shares of the technology company’s stock worth $14,883,000 after buying an additional 2,362 shares during the period. Finally, Vise Technologies Inc. purchased a new position in Logitech International during the fourth quarter worth $213,000. Institutional investors own 45.76% of the company’s stock.

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.