Logitech (NASDAQ:LOGI) Coverage Initiated by Analysts at DA Davidson

Analysts at DA Davidson started coverage on shares of Logitech (NASDAQ:LOGI) in a research note issued to investors on Thursday, March 15th, MarketBeat.com reports. The firm set a “buy” rating and a $46.00 price target on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 28.21% from the stock’s current price.

Several other brokerages also recently weighed in on LOGI. ValuEngine upgraded shares of Logitech from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. BidaskClub upgraded shares of Logitech from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Zacks Investment Research upgraded Logitech from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. JPMorgan Chase upped their price objective on Logitech from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Citigroup upped their price objective on Logitech from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $45.33.

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NASDAQ:LOGI traded down $0.33 during midday trading on Thursday, hitting $35.88. The company’s stock had a trading volume of 182,665 shares, compared to its average volume of 336,342. Logitech has a fifty-two week low of $30.64 and a fifty-two week high of $43.54. The company has a market cap of $5,945.94, a PE ratio of 30.93, a price-to-earnings-growth ratio of 4.44 and a beta of 0.90.

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, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.10. Logitech had a net margin of 8.10% and a return on equity of 23.38%. The company had revenue of $812.02 million for the quarter, compared to the consensus estimate of $753.47 million. research analysts anticipate that Logitech will post 1.25 EPS for the current year.

In other news, insider Marcel Stolk sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $39.48, for a total transaction of $789,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bracken Darrell sold 96,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $43.20, for a total value of $4,147,200.00. Following the transaction, the chief executive officer now owns 783,427 shares in the company, valued at approximately $33,844,046.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 292,673 shares of company stock worth $12,376,204. Insiders own 2.20% of the company’s stock.

Large investors have recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new position in shares of Logitech during the 4th quarter valued at approximately $138,000. Atria Investments LLC purchased a new position in shares of Logitech during the 4th quarter valued at approximately $204,000. Harbour Capital Advisors LLC purchased a new position in shares of Logitech during the 3rd quarter valued at approximately $259,000. Dixon Hubard Feinour & Brown Inc. VA lifted its position in shares of Logitech by 28.0% during the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 9,600 shares of the technology company’s stock valued at $324,000 after buying an additional 2,100 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Logitech during the 3rd quarter valued at approximately $360,000. Hedge funds and other institutional investors own 35.10% of the company’s stock.

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Logitech Company Profile

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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