Logitech International (NASDAQ:LOGI) Shares Gap Up – Time to Buy?

Logitech International S.A. (NASDAQ:LOGI) gapped up before the market opened on Thursday . The stock had previously closed at $87.85, but opened at $89.91. Logitech International shares last traded at $89.56, with a volume of 230,812 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LOGI. StockNews.com raised shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays lowered their price objective on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a report on Wednesday. Loop Capital reduced their price objective on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.75.

Logitech International Trading Down 0.4 %

The company’s 50-day moving average is $83.84 and its two-hundred day moving average is $85.72. The stock has a market capitalization of $14.42 billion, a P/E ratio of 20.31, a P/E/G ratio of 2.74 and a beta of 0.77.

Institutional Investors Weigh In On Logitech International

A number of hedge funds have recently made changes to their positions in LOGI. MassMutual Private Wealth & Trust FSB raised its stake in Logitech International by 56.0% during the 4th 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 in the last quarter. Employees Retirement System of Texas acquired a new position in shares of Logitech International during the second quarter valued at $63,000. Benjamin F. Edwards & Company Inc. increased 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 valued at $82,000 after purchasing an additional 495 shares during the period. Transamerica Financial Advisors Inc. raised its stake in shares of Logitech International by 115,300.0% during the third 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 acquired a new stake in Logitech International in the third quarter worth about $105,000. 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.