Logitech International’s (LOGI) “Underweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of Logitech International (NASDAQ:LOGI) in a research note released on Monday morning, MarketBeat reports. They currently have a $75.00 price target on the technology company’s stock, down from their previous price target of $85.00.

LOGI has been the subject of a number of other research reports. Berenberg Bank assumed coverage on Logitech International in a research report on Thursday, March 14th. They set a buy rating and a $111.00 price target for the company. Wedbush reiterated a neutral rating and issued a $92.00 target price on shares of Logitech International in a research report on Monday, March 18th. Barclays upped their price target on shares of Logitech International from $96.00 to $104.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. StockNews.com lowered shares of Logitech International from a strong-buy rating to a buy rating in a research note on Thursday, March 14th. Finally, Citigroup upped their target price on Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $92.43.

Logitech International Stock Down 0.9 %

Shares of NASDAQ:LOGI opened at $79.00 on Monday. The company’s 50-day moving average price is $88.15 and its 200 day moving average price is $85.93. The company has a market cap of $12.49 billion, a PE ratio of 25.82, a P/E/G ratio of 1.67 and a beta of 0.74. Logitech International has a fifty-two week low of $53.91 and a fifty-two week high of $96.66.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 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 company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. As a group, equities analysts anticipate that Logitech International will post 3.44 EPS for the current year.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now owns 11,910 shares in the company, valued at $1,002,464.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prakash Arunkundrum sold 699 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the transaction, the chief operating officer now directly owns 67,848 shares of the company’s stock, valued at approximately $6,106,320. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $2,207,555 in the last three months. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently bought and sold shares of the business. Capital Insight Partners LLC increased its holdings in shares of Logitech International by 8.9% in the 1st quarter. Capital Insight Partners LLC now owns 44,874 shares of the technology company’s stock valued at $4,010,000 after purchasing an additional 3,685 shares during the period. Park Avenue Securities LLC acquired a new position in Logitech International in the 1st quarter valued at approximately $680,000. Fulton Bank N.A. lifted its position in Logitech International by 19.4% in the 1st quarter. Fulton Bank N.A. now owns 3,971 shares of the technology company’s stock worth $355,000 after buying an additional 645 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Logitech International during the 1st quarter valued at $42,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Logitech International during the 4th quarter valued at $393,000. 45.76% of the stock is owned by hedge funds and other 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.