Logitech International (NASDAQ:LOGI) PT Raised to $40.00 at Morgan Stanley

Logitech International (NASDAQ:LOGI – Get Rating) had its price target raised by stock analysts at Morgan Stanley from $39.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the technology company’s stock. Morgan Stanley’s price target indicates a potential downside of 23.95% from the company’s current price.

A number of other analysts have also recently commented on LOGI. Deutsche Bank Aktiengesellschaft cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Friday, January 13th. Citigroup dropped their price target on shares of Logitech International from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday. Wedbush lowered shares of Logitech International from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $70.00 to $60.00 in a research report on Thursday, January 12th. UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 21st. Finally, Barclays dropped their price target on shares of Logitech International from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.73.

Logitech International Trading Down 0.8 %

Shares of LOGI stock opened at $52.60 on Thursday. Logitech International has a 12 month low of $41.81 and a 12 month high of $78.96. The stock has a market cap of $8.61 billion, a P/E ratio of 20.15, a P/E/G ratio of 4.46 and a beta of 0.90. The company has a 50 day simple moving average of $57.80 and a two-hundred day simple moving average of $54.71.

Insider Buying and Selling

In other Logitech International news, insider Prakash Arunkundrum sold 5,831 shares of the 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 completion of the transaction, the insider now owns 63,000 shares in the company, valued at $4,097,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Logitech International

Several institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its position in Logitech International by 233.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 551 shares of the technology company’s stock valued at $34,000 after purchasing an additional 386 shares during the last quarter. State of Wyoming bought a new position in Logitech International during the fourth quarter valued at $75,000. Captrust Financial Advisors bought a new position in Logitech International during the fourth quarter valued at $227,000. Morgan Stanley lifted its position in Logitech International by 70.8% during the fourth quarter. Morgan Stanley now owns 793,525 shares of the technology company’s stock valued at $49,397,000 after purchasing an additional 328,930 shares during the last quarter. Finally, Mariner LLC raised its stake in shares of Logitech International by 71.4% in the fourth quarter. Mariner LLC now owns 16,018 shares of the technology company’s stock valued at $997,000 after acquiring an additional 6,670 shares during the period. Institutional investors own 35.93% of the company’s stock.

Logitech International Company Profile

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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.