Logitech International (NASDAQ:LOGI) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Logitech International (NASDAQ:LOGI) from a hold rating to a buy rating in a research note issued to investors on Thursday.

LOGI has been the subject of several other research reports. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $73.00 to $92.00 in a research note on Thursday. Wedbush restated a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Logitech International from $93.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday. Bank of America lowered shares of Logitech International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $114.00 to $92.00 in a report on Monday, December 16th. Finally, Barclays reduced their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.75.

Logitech International Stock Performance

Logitech International stock opened at $91.55 on Thursday. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $102.59. The stock has a market cap of $14.48 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. The firm’s fifty day moving average price is $83.57 and its 200-day moving average price is $85.74.

Institutional Investors Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Logitech International by 56.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after acquiring an additional 233 shares during the period. Employees Retirement System of Texas purchased a new position in Logitech International during the 2nd quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. increased its holdings in Logitech International by 139.4% during the 2nd 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. raised its position 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 during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Logitech International in the 3rd quarter worth approximately $105,000. 45.76% of the stock is currently owned by institutional investors.

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.