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 research note published on Tuesday.

A number of other analysts have also recently weighed in on LOGI. Barclays dropped 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. Wedbush reiterated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note on Wednesday, October 23rd. Bank of America cut shares of Logitech International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $114.00 to $92.00 in a report on Monday. JPMorgan Chase & Co. dropped their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $92.88.

Logitech International Price Performance

Shares of LOGI stock opened at $81.06 on Tuesday. The firm has a fifty day moving average of $82.37 and a two-hundred day moving average of $87.95. The firm has a market cap of $12.82 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.94 and a beta of 0.78. Logitech International has a 1-year low of $74.72 and a 1-year high of $102.59.

Insider Activity

In other news, Director Guy Gecht acquired 2,500 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price 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 $1,500,963.36. This represents a 15.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LOGI. Envestnet Portfolio Solutions Inc. bought a new position in shares of Logitech International during the 2nd quarter valued at about $226,000. Blue Trust Inc. grew its position in Logitech International by 2,036.8% in the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock worth $130,000 after buying an additional 1,385 shares during the last quarter. Capital Insight Partners LLC increased its holdings in shares of Logitech International by 0.8% in the second quarter. Capital Insight Partners LLC now owns 45,253 shares of the technology company’s stock valued at $4,384,000 after buying an additional 379 shares in the last quarter. Liontrust Investment Partners LLP lifted its position in shares of Logitech International by 5.7% during the 2nd quarter. Liontrust Investment Partners LLP now owns 490,760 shares of the technology company’s stock valued at $47,470,000 after acquiring an additional 26,583 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich boosted its stake in shares of Logitech International by 22.3% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 8,650 shares of the technology company’s stock worth $838,000 after acquiring an additional 1,576 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

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.