Logitech International (NASDAQ:LOGI) Price Target Cut to $60.00

Logitech International (NASDAQ:LOGI – Get Rating) had its price objective cut by equities research analysts at Citigroup from $70.00 to $60.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 14.07% from the company’s current price.

LOGI has been the topic of a number of other research reports. Loop Capital increased their target price on shares of Logitech International from $50.00 to $55.00 in a research report on Thursday, January 26th. UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 21st. Wedbush lowered shares of Logitech International from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $70.00 to $60.00 in a research report on Thursday, January 12th. TheStreet upgraded shares of Logitech International from a “c+” rating to a “b-” rating in a research report on Thursday, December 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Friday, January 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $68.73.

Logitech International Stock Performance

Shares of LOGI opened at $52.60 on Thursday. Logitech International has a 52 week low of $41.81 and a 52 week high of $78.96. The firm has a market cap of $8.61 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 4.46 and a beta of 0.90. The firm’s 50-day simple moving average is $57.80 and its 200 day simple moving average is $54.71.

Insider Activity at Logitech International

In other Logitech International news, insider Prakash Arunkundrum sold 5,831 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $65.04, for a total transaction of $379,248.24. Following the sale, the insider now owns 63,000 shares of the company’s stock, valued at $4,097,520. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Logitech International

Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in shares of Logitech International by 76.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,662 shares of the technology company’s stock valued at $87,000 after acquiring an additional 718 shares in the last quarter. Creative Planning boosted its holdings in shares of Logitech International by 14.4% during the 3rd quarter. Creative Planning now owns 15,754 shares of the technology company’s stock valued at $725,000 after acquiring an additional 1,977 shares in the last quarter. Balentine LLC boosted its holdings in shares of Logitech International by 16.7% during the 3rd quarter. Balentine LLC now owns 9,588 shares of the technology company’s stock valued at $441,000 after acquiring an additional 1,369 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Logitech International during the 2nd quarter valued at $3,763,000. Finally, Willis Investment Counsel lifted its holdings in Logitech International by 28.7% during the 3rd quarter. Willis Investment Counsel now owns 16,823 shares of the technology company’s stock worth $774,000 after buying an additional 3,747 shares during the period. Institutional investors and hedge funds own 35.93% of the company’s stock.

About Logitech International

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Logitech International SA is a holding company, which engages in the design, manufacture, and marketing of peripherals for PCs, tablets, and other digital platforms. Its products include mice, keyboards, presentation remotes, headsets, and speakers. The firm offers solutions for healthy computing, wireless charging, streaming, virtual reality, schools, healthcare, and software and apps.