Logitech International (NASDAQ:LOGI) Upgraded by Bank of America to “Neutral” Rating

Bank of America upgraded shares of Logitech International (NASDAQ:LOGI) from an underperform rating to a neutral rating in a report issued on Friday, MarketBeat reports. They currently have $73.00 price objective on the technology company’s stock, down from their prior price objective of $90.00.

Several other equities analysts have also issued reports on the company. StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Citigroup lifted their price target on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays increased their price objective on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Logitech International has a consensus rating of “Hold” and a consensus target price of $97.71.

Logitech International Stock Down 3.0 %

Shares of NASDAQ:LOGI opened at $69.30 on Friday. The firm has a market cap of $10.96 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.61 and a beta of 0.97. Logitech International has a 12 month low of $67.20 and a 12 month high of $105.65. The company’s 50-day moving average price is $95.10 and its two-hundred day moving average price is $87.92.

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 analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. As a group, equities analysts predict that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its Board of Directors has authorized a share repurchase program on Wednesday, March 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

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

Institutional Trading of Logitech International

A number of large investors have recently bought and sold shares of LOGI. Banque Transatlantique SA acquired a new position in shares of Logitech International in the fourth quarter valued at approximately $26,000. Sierra Ocean LLC bought a new stake in Logitech International in the 4th quarter valued at $27,000. Bessemer Group Inc. boosted its stake in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock worth $27,000 after purchasing an additional 308 shares during the period. Exane Asset Management bought a new position in Logitech International during the 4th quarter worth about $32,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after purchasing an additional 439 shares during the period. 45.76% of the stock is owned by institutional investors.

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.