Equities researchers at Loop Capital initiated coverage on shares of Logitech International S.A. (NASDAQ:LOGI) in a note issued to investors on Monday, July 24th, Marketbeat reports. The brokerage set a “buy” rating and a $48.00 price target on the technology company’s stock. Loop Capital’s target price suggests a potential upside of 39.70% from the company’s current price.
Several other analysts have also recently issued reports on LOGI. Citigroup Inc. began coverage on shares of Logitech International in a research report on Thursday, July 6th. They set a “buy” rating and a $44.00 price target on the stock. Aegis began coverage on shares of Logitech International in a research report on Tuesday, June 13th. They set a “buy” rating and a $48.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $33.98.
Logitech International (LOGI) opened at 34.36 on Monday. The firm has a 50-day moving average of $36.78 and a 200 day moving average of $33.72. Logitech International has a one year low of $20.97 and a one year high of $40.82. The company has a market capitalization of $5.63 billion, a P/E ratio of 25.89 and a beta of 0.57.
Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, July 24th. The technology company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. Logitech International had a net margin of 9.15% and a return on equity of 25.18%. The company had revenue of $529.95 million for the quarter, compared to analysts’ expectations of $521.24 million. On average, equities analysts forecast that Logitech International will post $1.47 EPS for the current fiscal year.
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In related news, VP L Joseph Sullivan sold 49,232 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $36.06, for a total transaction of $1,775,305.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bracken Darrell sold 110,330 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $36.15, for a total transaction of $3,988,429.50. Following the sale, the chief executive officer now owns 940,542 shares in the company, valued at $34,000,593.30. The disclosure for this sale can be found here. Insiders have sold 319,245 shares of company stock worth $11,549,298 in the last three months. Corporate insiders own 2.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LOGI. Janney Montgomery Scott LLC purchased a new stake in Logitech International during the second quarter worth $227,000. Fox Run Management L.L.C. purchased a new stake in Logitech International during the second quarter worth $246,000. Quantbot Technologies LP purchased a new stake in Logitech International during the second quarter worth $254,000. Private Advisor Group LLC purchased a new stake in Logitech International during the first quarter worth $219,000. Finally, Frontier Wealth Management LLC purchased a new stake in Logitech International during the second quarter worth $265,000. Hedge funds and other institutional investors own 37.43% of the company’s stock.
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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