Logitech International (NASDAQ:LOGI) Given “Neutral” Rating at Wedbush

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating restated by equities researchers at Wedbush in a report issued on Wednesday,RTT News reports. They presently have a $88.00 price objective on the technology company’s stock. Wedbush’s price target would indicate a potential upside of 0.17% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Barclays cut their price objective on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Bank of America downgraded shares of Logitech International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $114.00 to $92.00 in a research report on Monday, December 16th. Loop Capital dropped their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Logitech International from $93.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $93.63.

Logitech International Trading Down 2.6 %

LOGI stock traded down $2.35 during mid-day trading on Wednesday, hitting $87.85. 714,133 shares of the company were exchanged, compared to its average volume of 659,033. The business has a 50 day simple moving average of $83.30 and a 200-day simple moving average of $85.70. The stock has a market capitalization of $13.89 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. Logitech International has a 1-year low of $74.72 and a 1-year high of $102.59.

Insider Activity at Logitech International

In related news, Director Guy Gecht bought 2,500 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $81.12 per share, with a total value of $202,800.00. Following the completion of the purchase, the director now owns 18,503 shares in the company, valued at $1,500,963.36. This represents a 15.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Logitech International

A number of hedge funds have recently modified their holdings of LOGI. Envestnet Asset Management Inc. raised its holdings in shares of Logitech International by 11.0% during the second quarter. Envestnet Asset Management Inc. now owns 104,168 shares of the technology company’s stock valued at $10,092,000 after purchasing an additional 10,317 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after purchasing an additional 495 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of Logitech International during the second quarter valued at about $286,000. EverSource Wealth Advisors LLC raised its holdings in shares of Logitech International by 6.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock valued at $200,000 after purchasing an additional 128 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in shares of Logitech International by 0.3% during the second quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock valued at $6,331,000 after purchasing an additional 168 shares during the period. 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.