Logitech International S.A. (NASDAQ:LOGI) Receives $93.43 Average Price Target from Brokerages

Shares of Logitech International S.A. (NASDAQ:LOGI) have been assigned an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $90.57.

Several equities analysts have recently weighed in on LOGI shares. Barclays raised their price target on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup reduced their price target on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Logitech International Trading Up 2.1 %

LOGI opened at $71.63 on Wednesday. Logitech International has a 12-month low of $64.73 and a 12-month high of $105.65. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The stock has a fifty day simple moving average of $88.64 and a two-hundred day simple moving average of $86.55.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping 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%. On average, analysts predict that Logitech International will post 4.21 EPS for the current year.

Logitech International declared that its board has authorized a stock buyback program on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Logitech International

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in shares of Logitech International during the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new position in shares of Logitech International in the fourth quarter worth about $27,000. Bessemer Group Inc. grew its position in shares of Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock worth $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management purchased a new position in Logitech International in the 4th quarter worth approximately $32,000. Finally, Tower Research Capital LLC TRC boosted its stake in Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock worth $40,000 after purchasing an additional 439 shares during the period. Institutional investors own 45.76% of the company’s stock.

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.