Logitech International (NASDAQ:LOGI) Lowered to Neutral Rating by Bank of America

Bank of America lowered shares of Logitech International (NASDAQ:LOGI) from a buy rating to a neutral rating in a report released on Monday morning, MarketBeat Ratings reports. Bank of America currently has $92.00 target price on the technology company’s stock, down from their previous target price of $114.00.

LOGI has been the topic of several other reports. Loop Capital reduced their price objective 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. Wedbush reissued a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research report on Wednesday, October 23rd. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered 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 cut their price target on Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.88.

Logitech International Stock Down 2.3 %

Shares of Logitech International stock opened at $82.41 on Monday. The business has a 50-day moving average price of $82.57 and a 200-day moving average price of $88.15. Logitech International has a twelve month low of $74.72 and a twelve month high of $102.59. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.94 and a beta of 0.78.

Insider Buying and Selling

In related news, Director Guy Gecht bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now owns 18,503 shares in the company, valued at approximately $1,500,963.36. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently bought and sold shares of LOGI. Barclays PLC increased 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 buying an additional 1,967,133 shares in the last quarter. Acadian Asset Management LLC grew its stake in Logitech International by 7.4% in the 2nd quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after acquiring an additional 457,630 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Logitech International during the 3rd quarter valued at about $15,891,000. Marshall Wace LLP raised its position in Logitech International by 57.3% during the second quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after acquiring an additional 164,307 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Logitech International in the third quarter valued at about $12,597,000. 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.