Logitech International (NASDAQ:LOGI) Receives Neutral Rating from Wedbush

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating reiterated by investment analysts at Wedbush in a report released on Tuesday, Benzinga reports. They presently have a $92.00 price objective on the technology company’s stock. Wedbush’s price objective indicates a potential upside of 17.60% from the company’s current price.

A number of other research analysts also recently issued reports on LOGI. Barclays boosted their price objective on Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. StockNews.com downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. Morgan Stanley reissued 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, April 15th. Citigroup upped their price objective on Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, Berenberg Bank began coverage on Logitech International in a research note on Thursday, March 14th. They issued a “buy” rating and a $111.00 price target for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Logitech International presently has an average rating of “Hold” and a consensus target price of $92.43.

Logitech International Price Performance

Shares of LOGI opened at $78.23 on Tuesday. Logitech International has a 1-year low of $53.91 and a 1-year high of $96.66. The firm’s 50 day simple moving average is $87.72 and its 200 day simple moving average is $86.22. The company has a market capitalization of $12.37 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.62 and a beta of 0.74.

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

Insider Activity

In related news, insider Samantha Harnett sold 650 shares of the business’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 transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Prakash Arunkundrum sold 23,023 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the transaction, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,572 shares of company stock valued at $2,207,555. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LOGI. CWM LLC boosted its position in shares of Logitech International by 16.9% during the 3rd quarter. CWM LLC now owns 1,127 shares of the technology company’s stock worth $78,000 after acquiring an additional 163 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Logitech International by 15.0% in the 3rd quarter. AE Wealth Management LLC now owns 14,954 shares of the technology company’s stock valued at $1,031,000 after purchasing an additional 1,951 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Logitech International in the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of Logitech International in the 3rd quarter valued at about $73,000. Finally, Cigna Investments Inc. New purchased a new stake in shares of Logitech International in the 3rd quarter valued at about $219,000. 45.76% of the stock is owned by institutional investors and hedge funds.

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.