Logitech International (NASDAQ:LOGI) Receives “Neutral” Rating from Wedbush

Wedbush restated their neutral rating on shares of Logitech International (NASDAQ:LOGI) in a research report released on Wednesday morning,RTT News reports. They currently have a $88.00 target price on the technology company’s stock.

Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Logitech International from $93.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America downgraded Logitech International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $114.00 to $92.00 in a research note on Monday, December 16th. StockNews.com cut Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Loop Capital reduced their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Barclays lowered their price objective on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Two equities 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $93.63.

Logitech International Price Performance

Logitech International stock opened at $87.85 on Wednesday. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $102.59. The firm’s 50 day simple moving average is $83.30 and its 200-day simple moving average is $85.70. The company has a market cap of $13.89 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its holdings in Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after purchasing an additional 1,967,133 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after buying an additional 1,385,493 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Logitech International during the 3rd quarter worth about $15,891,000. Marshall Wace LLP increased its holdings in shares of Logitech International by 57.3% during the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock valued at $43,615,000 after acquiring an additional 164,307 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Logitech International by 4,876.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock valued at $13,798,000 after acquiring an additional 164,185 shares in the last quarter. Institutional investors 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.