Logitech International (NASDAQ:LOGI) Cut to “Hold” at StockNews.com

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

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

Logitech International Stock Down 0.7 %

LOGI opened at $81.06 on Tuesday. The business’s fifty day simple moving average is $82.37 and its 200 day simple moving average is $87.95. Logitech International has a 52 week low of $74.72 and a 52 week high of $102.59. The firm has a market cap of $12.82 billion, a P/E ratio of 18.05, a PEG ratio of 1.94 and a beta of 0.78.

Insiders Place Their Bets

In related news, Director Guy Gecht acquired 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, with a total value of $202,800.00. Following the completion of the transaction, the director now directly owns 18,503 shares of the company’s stock, valued at $1,500,963.36. This trade represents a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently modified their holdings of LOGI. Ashton Thomas Private Wealth LLC acquired a new position in Logitech International during the 2nd quarter worth approximately $35,000. Employees Retirement System of Texas acquired a new position in shares of Logitech International during the second quarter worth $63,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Logitech International by 139.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after purchasing an additional 495 shares during the period. Transamerica Financial Advisors Inc. grew its holdings in Logitech International by 115,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock valued at $104,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Logitech International during the 3rd quarter worth $105,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

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.