Logitech International (NASDAQ:LOGI) Downgraded to “Hold” Rating by StockNews.com

Logitech International (NASDAQ:LOGI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other research analysts have also issued reports on LOGI. Loop Capital reduced their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Wedbush reissued a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research note on Wednesday, October 23rd. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Barclays reduced their price target on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America downgraded shares of Logitech International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $114.00 to $92.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Logitech International currently has an average rating of “Hold” and an average target price of $92.88.

Logitech International Stock Up 1.5 %

NASDAQ:LOGI traded up $1.25 during mid-day trading on Tuesday, reaching $83.66. 569,780 shares of the company were exchanged, compared to its average volume of 490,751. Logitech International has a 12 month low of $74.72 and a 12 month high of $102.59. The company has a fifty day moving average of $82.53 and a 200 day moving average of $88.04. The stock has a market cap of $13.23 billion, a PE ratio of 18.63, a PEG ratio of 1.94 and a beta of 0.78.

Insider Transactions at Logitech International

In other news, Director Guy Gecht bought 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the acquisition, the director now directly owns 18,503 shares in the company, valued at approximately $1,500,963.36. This trade represents a 15.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in Logitech International during the second quarter worth about $35,000. Employees Retirement System of Texas bought a new position in shares of Logitech International in the second quarter worth $63,000. Benjamin F. Edwards & Company Inc. boosted its stake in Logitech International by 139.4% in the 2nd 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 period. Transamerica Financial Advisors Inc. grew its stake in 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 acquiring an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Logitech International during the 3rd quarter valued at $105,000. 45.76% of the stock is currently owned by hedge funds and other 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.