Logitech International (NASDAQ:LOGI) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
LOGI has been the topic of several other reports. DA Davidson raised their target price on Logitech International from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup raised their target price on Logitech International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Loop Capital raised their target price on Logitech International to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. Zacks Investment Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Goldman Sachs Group began coverage on Logitech International in a report on Friday, June 22nd. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Logitech International currently has an average rating of “Hold” and an average target price of $49.60.
Shares of NASDAQ:LOGI opened at $46.55 on Thursday. Logitech International has a 1 year low of $32.66 and a 1 year high of $49.96. The firm has a market cap of $7.83 billion, a P/E ratio of 34.74, a PEG ratio of 3.73 and a beta of 1.02.
Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Monday, July 30th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07. Logitech International had a return on equity of 24.63% and a net margin of 7.97%. The business had revenue of $608.48 million during the quarter, compared to analyst estimates of $584.37 million. During the same period last year, the company earned $0.24 earnings per share. analysts predict that Logitech International will post 1.6 EPS for the current year.
In other Logitech International news, CEO Bracken Darrell sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $45.66, for a total transaction of $4,566,000.00. Following the transaction, the chief executive officer now directly owns 712,137 shares in the company, valued at $32,516,175.42. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Logitech International by 123.0% in the first quarter. JPMorgan Chase & Co. now owns 2,961,717 shares of the technology company’s stock valued at $108,784,000 after purchasing an additional 1,633,532 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Logitech International by 4.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,578,251 shares of the technology company’s stock valued at $113,391,000 after purchasing an additional 114,196 shares during the last quarter. Credit Agricole S A grew its position in shares of Logitech International by 3.8% in the first quarter. Credit Agricole S A now owns 1,266,600 shares of the technology company’s stock valued at $46,523,000 after purchasing an additional 46,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Logitech International by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 1,058,245 shares of the technology company’s stock valued at $46,542,000 after purchasing an additional 127,149 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA grew its position in shares of Logitech International by 56.3% in the first quarter. Compagnie Lombard Odier SCmA now owns 547,978 shares of the technology company’s stock valued at $20,012,000 after purchasing an additional 197,450 shares during the last quarter. 36.45% of the stock is currently owned by institutional investors.
About Logitech International
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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