Logitech International (NASDAQ:LOGI) Downgraded by BidaskClub

BidaskClub lowered shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a research report released on Friday morning, BidAskClub reports.

LOGI has been the subject of a number of other reports. Citigroup set a $95.00 price target on iRobot and gave the stock a hold rating in a research note on Wednesday, July 3rd. ValuEngine raised XCel Brands from a sell rating to a hold rating in a research note on Tuesday, July 9th. Wedbush initiated coverage on Millendo Therapeutics in a research note on Thursday. They set an outperform rating and a $24.00 price target for the company. Finally, Zacks Investment Research downgraded GasLog Partners LP Unit from a hold rating to a strong sell rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Logitech International currently has an average rating of Buy and an average price target of $46.00.

Shares of Logitech International stock opened at $39.01 on Friday. The business has a 50-day simple moving average of $38.48. The stock has a market cap of $6.41 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.32 and a beta of 1.21. Logitech International has a 1 year low of $29.06 and a 1 year high of $49.96.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. Logitech International had a return on equity of 26.79% and a net margin of 9.24%. The company had revenue of $624.31 million during the quarter, compared to the consensus estimate of $619.43 million. On average, sell-side analysts predict that Logitech International will post 1.87 earnings per share for the current year.

In other news, CFO Vincent Pilette sold 109,181 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $40.36, for a total transaction of $4,406,545.16. Following the completion of the sale, the chief financial officer now directly owns 194,380 shares of the company’s stock, valued at approximately $7,845,176.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LOGI. Norges Bank acquired a new position in shares of Logitech International during the 4th quarter valued at about $110,282,000. Marshall Wace LLP increased its holdings in shares of Logitech International by 274.9% during the 1st quarter. Marshall Wace LLP now owns 1,151,796 shares of the technology company’s stock valued at $45,142,000 after acquiring an additional 844,530 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Logitech International by 54.9% during the 4th 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. Jane Street Group LLC increased its holdings in shares of Logitech International by 1,620.0% during the 4th 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, Crossmark Global Holdings Inc. acquired a new position in shares of Logitech International during the 2nd quarter valued at about $9,146,000. 32.97% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Logitech International (NASDAQ:LOGI)

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