Morgan Stanley Increases Logitech International (NASDAQ:LOGI) Price Target to $78.00

Logitech International (NASDAQ:LOGI) had its price objective boosted by stock analysts at Morgan Stanley from $74.00 to $78.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential downside of 14.26% from the stock’s previous close.

Several other equities research analysts have also issued reports on LOGI. Citigroup raised their target price on Logitech International from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Loop Capital decreased their target price on Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on Logitech International from $80.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Bank of America raised Logitech International from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Finally, Barclays decreased their target price on Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.57.

Logitech International Trading Down 3.0%

NASDAQ LOGI opened at $90.97 on Tuesday. The firm has a market capitalization of $14.83 billion, a P/E ratio of 21.61, a PEG ratio of 19.49 and a beta of 0.96. The business has a fifty day simple moving average of $89.45 and a 200 day simple moving average of $88.34. Logitech International has a 12 month low of $64.73 and a 12 month high of $105.65.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, July 29th. The technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Logitech International had a return on equity of 31.08% and a net margin of 13.78%. Logitech International’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. As a group, sell-side analysts predict that Logitech International will post 4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LOGI. Norges Bank bought a new position in shares of Logitech International during the 4th quarter worth $156,888,000. Assenagon Asset Management S.A. grew its stake in shares of Logitech International by 91.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,701,985 shares of the technology company’s stock worth $152,757,000 after acquiring an additional 815,280 shares during the period. Freestone Grove Partners LP bought a new position in shares of Logitech International during the 4th quarter worth $39,660,000. Nuveen LLC bought a new position in shares of Logitech International during the 1st quarter worth $35,925,000. Finally, Barclays PLC grew its stake in shares of Logitech International by 8.2% during the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company’s stock worth $448,409,000 after acquiring an additional 414,236 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.