Brokerages Set Logitech International S.A. (NASDAQ:LOGI) Target Price at $92.43

Shares of Logitech International S.A. (NASDAQ:LOGI) have received a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $91.00.

A number of equities analysts recently commented on the stock. Berenberg Bank started coverage on shares of Logitech International in a research note on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective for the company. JPMorgan Chase & Co. cut Logitech International from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $85.00 in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Wedbush reissued a “neutral” rating and set a $92.00 price target on shares of Logitech International in a research report on Tuesday, April 30th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th.

Insiders Place Their Bets

In related news, CFO Charles D. Boynton acquired 1,225 shares of the stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now owns 1,225 shares of the company’s stock, valued at approximately $99,555.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Charles D. Boynton acquired 1,225 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $81.27 per share, with a total value of $99,555.75. Following the completion of the acquisition, the chief financial officer now owns 1,225 shares of the company’s stock, valued at $99,555.75. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Prakash Arunkundrum sold 23,023 shares of Logitech International stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the sale, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,572 shares of company stock valued at $2,207,555. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LOGI. Norges Bank purchased a new position in shares of Logitech International during the 4th quarter valued at about $214,130,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 acquiring an additional 760,263 shares during the period. Assenagon Asset Management S.A. boosted its position in Logitech International by 1,932.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 480,655 shares of the technology company’s stock worth $43,098,000 after purchasing an additional 457,006 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Logitech International by 317.8% during the 3rd quarter. Acadian Asset Management LLC now owns 546,851 shares of the technology company’s stock worth $37,817,000 after purchasing an additional 415,950 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Logitech International by 20.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after purchasing an additional 306,948 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 0.5 %

Shares of Logitech International stock opened at $84.35 on Wednesday. The stock’s fifty day moving average price is $86.14 and its 200-day moving average price is $86.94. The firm has a market cap of $13.34 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.56 and a beta of 0.78. Logitech International has a 12 month low of $53.91 and a 12 month high of $96.66.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.68%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. Analysts forecast that Logitech International will post 3.81 earnings per share for the current year.

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.