Logitech International (NASDAQ:LOGI) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other brokerages have also commented on LOGI. JPMorgan Chase & Co. lowered their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Loop Capital dropped their target price on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Barclays lowered their price target on Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Bank of America cut Logitech International from a “buy” rating to a “neutral” rating and decreased their target price for the company from $114.00 to $92.00 in a research note on Monday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.88.

Logitech International Trading Up 1.5 %

Shares of NASDAQ:LOGI opened at $83.66 on Tuesday. The firm’s 50 day moving average is $82.53 and its two-hundred day moving average is $88.04. The firm has a market capitalization of $13.23 billion, a P/E ratio of 18.63, a PEG ratio of 1.94 and a beta of 0.78. Logitech International has a 52 week low of $74.72 and a 52 week high of $102.59.

Insider Activity

In related news, Director Guy Gecht bought 2,500 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now directly owns 18,503 shares in the company, valued at approximately $1,500,963.36. This represents a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in Logitech International during the third quarter valued at about $105,000. World Investment Advisors LLC bought a new stake in shares of Logitech International in the third quarter valued at approximately $12,597,000. Barclays PLC increased its position in Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after acquiring an additional 1,967,133 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Logitech International in the 3rd quarter valued at $15,891,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Logitech International in the 3rd quarter worth $421,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.