Logitech International (NASDAQ:LOGI) Rating Increased to Neutral at UBS Group

UBS Group upgraded shares of Logitech International (NASDAQ:LOGI) from a sell rating to a neutral rating in a research report sent to investors on Wednesday, Marketbeat reports.

Other research analysts also recently issued reports about the company. Loop Capital dropped their target price 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. JPMorgan Chase & Co. dropped their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a report on Wednesday, October 23rd. Finally, Barclays decreased 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.00.

Logitech International Price Performance

Shares of LOGI stock opened at $79.58 on Wednesday. Logitech International has a 1-year low of $74.72 and a 1-year high of $102.59. The stock’s fifty day moving average price is $83.80 and its 200 day moving average price is $89.11. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.81 and a beta of 0.81.

Logitech International Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th were issued a $1.3687 dividend. This is a boost from Logitech International’s previous annual dividend of $1.19. The ex-dividend date was Tuesday, September 24th. This represents a yield of 1.4%. Logitech International’s dividend payout ratio is presently 11.63%.

Insider Buying and Selling

In other news, Director Guy Gecht bought 2,500 shares of Logitech International stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $81.12 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Logitech International

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its position in shares of Logitech International by 7.4% in the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after purchasing an additional 457,630 shares in the last quarter. Barclays PLC grew its position in shares of Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Logitech International by 3.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company’s stock valued at $219,611,000 after purchasing an additional 89,788 shares in the last quarter. Renaissance Technologies LLC grew its position in Logitech International by 8.0% in the second quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock worth $157,324,000 after acquiring an additional 120,000 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Logitech International by 166.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after acquiring an additional 798,759 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

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.