Logitech International (NASDAQ:LOGI) Cut to “Neutral” at Bank of America

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

Other research analysts have also recently issued reports about the company. Barclays cut 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. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their target price on shares of 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 reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note on Wednesday, October 23rd. Finally, 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 report on Monday, October 28th. Two investment 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.88.

Logitech International Stock Performance

Shares of Logitech International stock opened at $81.66 on Monday. The firm’s 50-day simple moving average is $82.46 and its 200-day simple moving average is $88.00. The firm has a market cap of $12.91 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. Logitech International has a twelve month low of $74.72 and a twelve month high of $102.59.

Insider Transactions at Logitech International

In related news, Director Guy Gecht bought 2,500 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $81.12 per share, with a total value of $202,800.00. Following the completion of the transaction, the director now owns 18,503 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Logitech International

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its position in Logitech International by 7.4% during the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock worth $644,642,000 after buying an additional 457,630 shares during the last quarter. Barclays PLC lifted its holdings in shares of Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after buying an additional 1,967,133 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Logitech International by 3.8% in the 3rd 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 during the period. Renaissance Technologies LLC boosted its stake in shares of Logitech International by 8.0% in the second quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock valued at $157,324,000 after buying an additional 120,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Logitech International by 1.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,097,951 shares of the technology company’s stock worth $98,348,000 after purchasing an additional 19,046 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.