Logitech International (LOGI) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Logitech International (NASDAQ:LOGI) from a sell rating to a hold rating in a research report sent to investors on Monday, April 1st, BidAskClub reports.

Other equities research analysts also recently issued research reports about the company. Wedbush reissued a buy rating and issued a $40.00 price objective on shares of Logitech International in a report on Tuesday, January 22nd. Maxim Group raised Logitech International from a sell rating to a hold rating and set a $31.00 price target for the company in a report on Wednesday, January 23rd. Zacks Investment Research downgraded Logitech International from a strong-buy rating to a hold rating in a report on Monday, January 28th. JPMorgan Chase & Co. raised Logitech International from a neutral rating to an overweight rating and raised their price target for the company from $38.00 to $42.00 in a report on Wednesday, January 23rd. Finally, ValuEngine raised Logitech International from a sell rating to a hold rating in a report on Friday, December 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Logitech International presently has a consensus rating of Buy and a consensus price target of $45.29.

Shares of LOGI traded down $0.30 during mid-day trading on Monday, hitting $41.24. 105,747 shares of the company’s stock were exchanged, compared to its average volume of 247,120. The stock has a market capitalization of $6.82 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.45 and a beta of 1.21. Logitech International has a 52 week low of $29.06 and a 52 week high of $49.96.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, January 21st. The technology company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.17. The company had revenue of $864.39 million during the quarter, compared to analysts’ expectations of $854.11 million. Logitech International had a net margin of 9.06% and a return on equity of 26.85%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. Equities research analysts forecast that Logitech International will post 1.69 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Logitech International in the fourth quarter worth $110,282,000. Bank of New York Mellon Corp grew its position in Logitech International by 54.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,280,706 shares of the technology company’s stock valued at $40,060,000 after acquiring an additional 453,782 shares during the last quarter. Morgan Stanley grew its position in Logitech International by 87.5% in the third quarter. Morgan Stanley now owns 734,769 shares of the technology company’s stock valued at $32,860,000 after acquiring an additional 342,965 shares during the last quarter. Jane Street Group LLC grew its position in Logitech International by 1,620.0% in the fourth quarter. Jane Street Group LLC now owns 340,451 shares of the technology company’s stock valued at $10,726,000 after acquiring an additional 320,657 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Logitech International by 250.5% in the fourth quarter. Two Sigma Investments LP now owns 313,710 shares of the technology company’s stock valued at $9,866,000 after acquiring an additional 224,200 shares during the last quarter. Hedge funds and other institutional investors own 38.99% of the company’s stock.

Logitech International Company Profile

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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Analyst Recommendations for Logitech International (NASDAQ:LOGI)

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