Logitech (LOGI) Receives $45.80 Average Target Price from Brokerages

Logitech (NASDAQ:LOGI) has been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $45.80.

Several brokerages have recently weighed in on LOGI. DA Davidson began coverage on Logitech in a research note on Thursday, March 15th. They issued a “buy” rating and a $46.00 price target for the company. BidaskClub raised Logitech from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. ValuEngine upgraded Logitech from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. JPMorgan Chase lowered Logitech from a “neutral” rating to an “underweight” rating and set a $40.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, Citigroup upped their target price on Logitech from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th.

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Shares of LOGI stock opened at $36.73 on Thursday. The stock has a market capitalization of $6,031.32, a PE ratio of 31.66, a P/E/G ratio of 3.67 and a beta of 0.83. Logitech has a 1-year low of $30.64 and a 1-year high of $43.54.

Logitech (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, January 22nd. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.10. The company had revenue of $812.02 million during the quarter, compared to analysts’ expectations of $753.47 million. Logitech had a return on equity of 23.38% and a net margin of 8.10%. sell-side analysts expect that Logitech will post 1.25 EPS for the current year.

In related news, CFO Vincent Pilette sold 81,302 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $42.35, for a total transaction of $3,443,139.70. Following the sale, the chief financial officer now owns 339,259 shares in the company, valued at approximately $14,367,618.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Luca Guerrino De sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $40.75, for a total value of $611,250.00. Following the sale, the insider now owns 321,204 shares in the company, valued at approximately $13,089,063. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,673 shares of company stock worth $12,376,204. 2.20% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in LOGI. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Logitech during the 3rd quarter valued at about $923,000. Dynamic Technology Lab Private Ltd bought a new position in Logitech in the third quarter worth approximately $360,000. AGF Investments Inc. bought a new position in Logitech in the third quarter worth approximately $565,000. Wells Fargo & Company MN boosted its holdings in Logitech by 185.3% in the third quarter. Wells Fargo & Company MN now owns 32,901 shares of the technology company’s stock worth $1,199,000 after acquiring an additional 21,368 shares in the last quarter. Finally, BB&T Securities LLC boosted its holdings in Logitech by 50.1% in the third quarter. BB&T Securities LLC now owns 11,907 shares of the technology company’s stock worth $434,000 after acquiring an additional 3,973 shares in the last quarter. Institutional investors own 35.10% of the company’s stock.

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About Logitech

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 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.

Analyst Recommendations for Logitech (NASDAQ:LOGI)

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