Zacks Investment Research upgraded shares of Logitech International (NASDAQ:LOGI) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Logitech’s shares have outperformed the industry’s average return on a year to date basis. Logitech boasts a striking earnings surprise history, with consecutive strong earnings beats in the four trailing quarters. Logitech is experiencing robust sales growth across Asia-Pacific and strong momentum in Gaming as well as Video Collaboration businesses. We believe that the company’s impressive traction across its markets and its strong product portfolio will drive growth for Logitech. However, on the flip side, fluctuations in the company’s product lines add to its concerns. In addition, growing R&D expenses, economic challenges in Russia and Europe as well as currency fluctuations continue to impact earnings and could be concerns in the quarters ahead. Moreover, strong competition in the sector poses as a major headwind.”
Separately, BidaskClub cut Logitech International from a buy rating to a hold rating in a report on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Logitech International presently has a consensus rating of Buy and a consensus target price of $44.60.
Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, October 23rd. The technology company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.11. The business had revenue of $634.21 million during the quarter, compared to analysts’ expectations of $630.23 million. Logitech International had a return on equity of 24.58% and a net margin of 9.32%. During the same period last year, the firm posted $0.35 EPS. equities research analysts anticipate that Logitech International will post 1.24 EPS for the current year.
A number of institutional investors have recently bought and sold shares of LOGI. GRATRY & Co LLC increased its stake in shares of Logitech International by 62.0% in the 3rd quarter. GRATRY & Co LLC now owns 51,093 shares of the technology company’s stock valued at $1,863,000 after purchasing an additional 19,553 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Logitech International by 38.1% in the 2nd quarter. Royal Bank of Canada now owns 114,868 shares of the technology company’s stock valued at $4,211,000 after purchasing an additional 31,683 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Logitech International by 71.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,704,135 shares of the technology company’s stock valued at $161,352,000 after purchasing an additional 1,962,561 shares during the last quarter. Fox Run Management L.L.C. increased its stake in shares of Logitech International by 262.7% in the 3rd quarter. Fox Run Management L.L.C. now owns 24,300 shares of the technology company’s stock valued at $886,000 after purchasing an additional 17,600 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Logitech International by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,600,997 shares of the technology company’s stock valued at $132,012,000 after purchasing an additional 147,619 shares during the last quarter. Hedge funds and other institutional investors own 38.23% of the company’s stock.
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Logitech International Company Profile
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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