Logitech International (NASDAQ:LOGI) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Logitech International (NASDAQ:LOGI) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Several other brokerages have also commented on LOGI. Barclays decreased 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. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Loop Capital decreased their price objective on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. cut their price objective on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.88.

Logitech International Stock Performance

Shares of Logitech International stock opened at $83.66 on Tuesday. 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 $13.23 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. The firm’s 50-day simple moving average is $82.53 and its 200-day simple moving average is $88.04.

Insiders Place Their Bets

In related news, Director Guy Gecht acquired 2,500 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were 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 directly owns 18,503 shares in the company, valued at approximately $1,500,963.36. This trade represents a 15.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LOGI. Hsbc Holdings PLC boosted its stake in Logitech International by 380.7% in the 2nd quarter. Hsbc Holdings PLC now owns 122,926 shares of the technology company’s stock valued at $11,883,000 after purchasing an additional 97,353 shares during the period. Toronto Dominion Bank boosted its holdings in Logitech International by 2,085.3% in the 2nd quarter. Toronto Dominion Bank now owns 63,439 shares of the technology company’s stock valued at $6,146,000 after purchasing an additional 60,536 shares during the period. SpiderRock Advisors LLC acquired a new position in shares of Logitech International during the 3rd quarter worth approximately $1,431,000. Assetmark Inc. increased its holdings in shares of Logitech International by 6,766.2% during the third quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock worth $4,418,000 after purchasing an additional 48,514 shares during the period. Finally, Summit Global Investments acquired a new stake in shares of Logitech International in the third quarter valued at approximately $1,299,000. 45.76% of the stock is owned by 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.