Logitech International (NASDAQ:LOGI) Sees Large Volume Increase on Analyst Upgrade

Shares of Logitech International S.A. (NASDAQ:LOGI) saw unusually-high trading volume on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $93.00 to $99.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Approximately 647,954 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 581,683 shares.The stock last traded at $89.95 and had previously closed at $87.22.

A number of other research analysts have also recently issued reports on the company. Barclays cut 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. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Loop Capital decreased their price target on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Wedbush reiterated a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.63.

Insider Transactions at Logitech International

In other Logitech International news, Director Guy Gecht bought 2,500 shares of Logitech International stock in a transaction dated Thursday, October 24th. The shares were bought at an average price of $81.12 per share, with a total value of $202,800.00. Following the purchase, the director now owns 18,503 shares of the company’s stock, valued at $1,500,963.36. This trade represents a 15.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Logitech International

Several large investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its stake in 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 buying an additional 233 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of Logitech International in the 2nd quarter valued at approximately $63,000. Benjamin F. Edwards & Company Inc. boosted its stake 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 worth $82,000 after acquiring an additional 495 shares during the last quarter. Transamerica Financial Advisors Inc. grew its holdings 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 purchasing an additional 1,153 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Logitech International in the third quarter valued at approximately $105,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Up 2.9 %

The company’s fifty day simple moving average is $82.83 and its two-hundred day simple moving average is $85.71. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77.

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.