Berenberg Bank Begins Coverage on Logitech International (NASDAQ:LOGI)

Berenberg Bank assumed coverage on shares of Logitech International (NASDAQ:LOGI) in a research note published on Thursday morning, Benzinga reports. The firm issued a buy rating and a $111.00 target price on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. Barclays lifted their price objective on Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a report on Wednesday, January 24th. StockNews.com downgraded Logitech International from a strong-buy rating to a buy rating in a research report on Thursday. Morgan Stanley upped their price target on Logitech International from $83.00 to $85.00 and gave the stock an equal weight rating in a research report on Wednesday, January 24th. Finally, Wedbush upped their price target on Logitech International from $90.00 to $92.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Logitech International currently has a consensus rating of Hold and an average target price of $90.29.

Logitech International Stock Down 6.9 %

LOGI stock traded down $6.56 during midday trading on Thursday, reaching $88.16. The stock had a trading volume of 1,386,020 shares, compared to its average volume of 469,881. The business has a fifty day simple moving average of $89.02 and a two-hundred day simple moving average of $83.19. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.07 and a beta of 0.74. Logitech International has a twelve month low of $52.53 and a twelve month high of $96.66.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.43. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. On average, equities analysts predict that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Prakash Arunkundrum sold 23,023 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the completion of the sale, the chief operating officer now directly owns 61,056 shares in the company, valued at approximately $5,495,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Logitech International news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Prakash Arunkundrum sold 23,023 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the sale, the chief operating officer now owns 61,056 shares of the company’s stock, valued at $5,495,040. The disclosure for this sale can be found here. Insiders sold 24,472 shares of company stock worth $2,198,737 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in shares of Logitech International by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,018 shares of the technology company’s stock valued at $223,000 after buying an additional 249 shares in the last quarter. Natixis Advisors L.P. bought a new position in Logitech International in the first quarter valued at approximately $1,064,000. BlackRock Inc. increased its stake in Logitech International by 19.2% in the first quarter. BlackRock Inc. now owns 578,107 shares of the technology company’s stock valued at $42,652,000 after acquiring an additional 93,104 shares during the last quarter. Cibc World Market Inc. increased its stake in Logitech International by 51.9% in the first quarter. Cibc World Market Inc. now owns 8,775 shares of the technology company’s stock valued at $647,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Logitech International by 24.2% in the first quarter. Dimensional Fund Advisors LP now owns 469,184 shares of the technology company’s stock valued at $34,625,000 after acquiring an additional 91,536 shares during the last quarter. 38.58% 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 connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.