Logitech International (NASDAQ:LOGI) Raised to “Neutral” at UBS Group

Logitech International (NASDAQ:LOGI) was upgraded by equities research analysts at UBS Group from a “sell” rating to a “neutral” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

Other equities analysts also recently issued research reports about the company. Wedbush reiterated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research report on Wednesday, October 23rd. Loop Capital decreased their price objective on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. decreased their target price on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Barclays decreased their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Logitech International has an average rating of “Hold” and a consensus target price of $93.00.

Logitech International Price Performance

LOGI stock traded down $0.34 during trading on Wednesday, hitting $77.59. 393,613 shares of the company traded hands, compared to its average volume of 497,997. The stock’s 50-day simple moving average is $84.17 and its 200 day simple moving average is $89.25. The company has a market cap of $12.27 billion, a PE ratio of 17.28, a P/E/G ratio of 1.77 and a beta of 0.81. Logitech International has a 1 year low of $74.72 and a 1 year high of $102.59.

Insider Transactions at Logitech International

In other news, Director Guy Gecht purchased 2,500 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now directly owns 18,503 shares of the company’s stock, valued at $1,500,963.36. The trade was a 15.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Logitech International by 6.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock worth $200,000 after buying an additional 128 shares during the period. Rosenberg Matthew Hamilton raised its stake in Logitech International by 5.8% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,339 shares of the technology company’s stock valued at $210,000 after purchasing an additional 128 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in Logitech International by 2.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the technology company’s stock valued at $627,000 after purchasing an additional 153 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Logitech International by 0.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock valued at $6,331,000 after purchasing an additional 168 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its stake in Logitech International by 0.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds 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.