Logitech International (NASDAQ:LOGI) Stock Rating Lowered by StockNews.com

Logitech International (NASDAQ:LOGI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts have also recently issued reports about the stock. Bank of America cut shares of Logitech International from a “buy” rating to a “neutral” rating and dropped their target price for the company from $114.00 to $92.00 in a report on Monday. UBS Group raised 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 Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Barclays decreased 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. Finally, Wedbush restated a “neutral” rating and set a $88.00 target price on shares of Logitech International in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $92.88.

Logitech International Stock Performance

NASDAQ:LOGI traded up $1.25 during mid-day trading on Tuesday, reaching $83.66. The stock had a trading volume of 569,780 shares, compared to its average volume of 490,751. The business has a 50 day simple moving average of $82.53 and a 200 day simple moving average of $88.04. Logitech International has a twelve month low of $74.72 and a twelve month high of $102.59. The firm has a market capitalization of $13.23 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.94 and a beta of 0.78.

Insider Buying and Selling at Logitech International

In related news, Director Guy Gecht acquired 2,500 shares of the 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 purchase, the director now directly owns 18,503 shares in the company, valued at $1,500,963.36. This 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 this link. 0.16% of the stock is owned by insiders.

Institutional Trading of Logitech International

Several large investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of Logitech International during the second quarter valued at approximately $35,000. Employees Retirement System of Texas acquired a new stake in Logitech International during the 2nd quarter worth about $63,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Logitech International by 139.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after acquiring an additional 495 shares in the last quarter. Transamerica Financial Advisors Inc. grew its stake in shares of Logitech International by 115,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock valued at $104,000 after buying an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Logitech International during the third quarter worth $105,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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.