Logitech International (NASDAQ:LOGI) Upgraded at Bank of America

Bank of America upgraded shares of Logitech International (NASDAQ:LOGI) from an underperform rating to a neutral rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $73.00 target price on the technology company’s stock, down from their prior target price of $90.00.

Several other research firms have also recently weighed in on LOGI. Citigroup boosted their price objective on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays upped their price target on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $97.71.

Logitech International Stock Down 3.0 %

Shares of LOGI stock opened at $69.30 on Friday. The business’s 50 day moving average is $95.10 and its two-hundred day moving average is $87.92. Logitech International has a 12 month low of $67.20 and a 12 month high of $105.65. The company has a market cap of $10.96 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the transaction, the insider now directly owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Institutional Trading of Logitech International

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Logitech International by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company’s stock valued at $507,000 after acquiring an additional 120 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after purchasing an additional 127 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in Logitech International by 4.1% during the 4th quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company’s stock valued at $284,000 after purchasing an additional 136 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in Logitech International by 1.2% in the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock valued at $1,231,000 after buying an additional 175 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Logitech International by 16.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company’s stock worth $123,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds 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.