Morgan Stanley Reaffirms “Underweight” Rating for Logitech International (NASDAQ:LOGI)

Morgan Stanley reiterated their underweight rating on shares of Logitech International (NASDAQ:LOGI) in a research note released on Monday morning, Marketbeat Ratings reports. Morgan Stanley currently has a $75.00 price objective on the technology company’s stock, down from their prior price objective of $85.00.

LOGI has been the subject of several other reports. Wedbush reissued a neutral rating and set a $92.00 price objective on shares of Logitech International in a report on Monday, March 18th. Citigroup raised their price objective on shares of Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 4th. StockNews.com lowered shares of Logitech International from a strong-buy rating to a buy rating in a report on Thursday, March 14th. Barclays raised their price objective on shares of Logitech International from $96.00 to $104.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. Finally, Berenberg Bank initiated coverage on shares of Logitech International in a research report on Thursday, March 14th. They issued a buy rating and a $111.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Logitech International presently has an average rating of Hold and an average target price of $92.43.

Logitech International Trading Down 1.2 %

LOGI opened at $78.08 on Monday. The company has a fifty day simple moving average of $88.02 and a 200 day simple moving average of $85.87. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.64 and a beta of 0.74. Logitech International has a twelve month low of $53.91 and a twelve month high of $96.66.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Monday, January 22nd. The technology company reported $1.43 earnings per share 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 net margin of 11.44% and a return on equity of 23.84%. On average, analysts forecast that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Logitech International news, COO Prakash Arunkundrum sold 699 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the transaction, the chief operating officer now owns 67,848 shares of the company’s stock, valued at approximately $6,106,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the transaction, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $2,207,555 in the last ninety days. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Logitech International

Several large investors have recently bought and sold shares of the stock. Claro Advisors LLC increased its stake in Logitech International by 6.2% during the 1st quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock valued at $200,000 after buying an additional 131 shares during the period. Capital Insight Partners LLC increased its stake in Logitech International by 8.9% during the 1st quarter. Capital Insight Partners LLC now owns 44,874 shares of the technology company’s stock valued at $4,010,000 after buying an additional 3,685 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Logitech International in the 1st quarter worth approximately $680,000. Fulton Bank N.A. grew its stake in shares of Logitech International by 19.4% in the 1st quarter. Fulton Bank N.A. now owns 3,971 shares of the technology company’s stock worth $355,000 after purchasing an additional 645 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Logitech International in the 1st quarter worth approximately $42,000. 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 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.