Logitech International (NASDAQ:LOGI) Upgraded to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Logitech International (NASDAQ:LOGI) from an underweight rating to an equal weight rating in a research note published on Thursday, Marketbeat reports. Morgan Stanley currently has $92.00 price objective on the technology company’s stock, up from their previous price objective of $73.00.

LOGI has been the topic of a number of other reports. StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lifted their price objective on Logitech International from $93.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush restated a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research note on Wednesday. Bank of America downgraded shares of Logitech International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $114.00 to $92.00 in a research note on Monday, December 16th. Finally, UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $95.75.

Logitech International Price Performance

Shares of Logitech International stock opened at $91.55 on Thursday. The company has a market cap of $14.48 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. The firm has a fifty day moving average price of $83.57 and a two-hundred day moving average price of $85.74. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $102.59.

Institutional Trading of Logitech International

Several hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Logitech International by 11.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,168 shares of the technology company’s stock worth $10,092,000 after acquiring an additional 10,317 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock worth $82,000 after purchasing an additional 495 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Logitech International by 6.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock valued at $200,000 after buying an additional 128 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Logitech International by 0.3% in the second quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock valued at $6,331,000 after buying an additional 168 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its position in Logitech International by 5.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,510 shares of the technology company’s stock worth $340,000 after buying an additional 194 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.