Wedbush Reiterates “Buy” Rating for Logitech International (NASDAQ:LOGI)

Wedbush reaffirmed their buy rating on shares of Logitech International (NASDAQ:LOGI) in a report published on Thursday, AnalystRatings.com reports. They currently have a $45.00 price objective on the technology company’s stock. Wedbush also issued estimates for Logitech International’s Q1 2021 earnings at $0.28 EPS, Q2 2021 earnings at $0.48 EPS, Q3 2021 earnings at $0.87 EPS and Q4 2021 earnings at $0.38 EPS.

LOGI has been the topic of a number of other reports. Zacks Investment Research cut shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a research note on Tuesday, April 2nd. BidaskClub raised shares of Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. ValuEngine raised shares of XCel Brands from a sell rating to a hold rating in a research report on Tuesday, July 9th. Finally, Citigroup set a $95.00 price target on shares of iRobot and gave the company a hold rating in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $46.00.

Logitech International stock opened at $39.01 on Thursday. Logitech International has a fifty-two week low of $29.06 and a fifty-two week high of $49.96. The stock has a market capitalization of $6.41 billion, a PE ratio of 22.42, a PEG ratio of 2.32 and a beta of 1.21. The stock’s 50-day moving average price is $38.48.

Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, April 29th. The technology company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. The firm had revenue of $624.31 million for the quarter, compared to analysts’ expectations of $619.43 million. Logitech International had a net margin of 9.24% and a return on equity of 26.79%. As a group, equities research analysts predict that Logitech International will post 1.87 EPS for the current fiscal year.

In other news, CFO Vincent Pilette sold 109,181 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $40.36, for a total value of $4,406,545.16. Following the sale, the chief financial officer now owns 194,380 shares of the company’s stock, valued at $7,845,176.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Henry James International Management Inc. lifted its holdings in Logitech International by 13.4% during the second quarter. Henry James International Management Inc. now owns 87,661 shares of the technology company’s stock valued at $3,485,000 after purchasing an additional 10,333 shares in the last quarter. Summit Financial Wealth Advisors LLC bought a new stake in shares of Logitech International during the second quarter valued at approximately $935,000. Crossmark Global Holdings Inc. bought a new stake in shares of Logitech International during the second quarter valued at approximately $9,146,000. FMR LLC increased its position in Logitech International by 2.4% in the first quarter. FMR LLC now owns 292,734 shares of the technology company’s stock worth $11,474,000 after purchasing an additional 6,860 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its position in Logitech International by 116.1% in the first quarter. Marshall Wace North America L.P. now owns 111,954 shares of the technology company’s stock worth $4,405,000 after purchasing an additional 60,155 shares during the last quarter. 32.82% of the stock is currently owned by institutional investors and hedge funds.

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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