Logitech International (NASDAQ:LOGI) Lowered to “Hold” Rating by StockNews.com

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

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Bank of America downgraded Logitech International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $114.00 to $92.00 in a research report on Monday. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Loop Capital reduced their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, Barclays lowered 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.88.

Logitech International Stock Down 2.4 %

LOGI stock opened at $81.66 on Tuesday. The company’s 50-day moving average price is $82.46 and its two-hundred day moving average price is $88.00. The firm has a market cap of $12.91 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.94 and a beta of 0.78. Logitech International has a 12 month low of $74.72 and a 12 month high of $102.59.

Insider Buying and Selling at Logitech International

In other Logitech International news, Director Guy Gecht acquired 2,500 shares of Logitech International stock in a transaction that occurred on Thursday, October 24th. The shares were bought 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 directly owns 18,503 shares in the company, valued at $1,500,963.36. This trade represents a 15.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its stake 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 during the period. Acadian Asset Management LLC increased its position in Logitech International by 7.4% during 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 purchasing an additional 457,630 shares during the period. Public Employees Retirement System of Ohio bought a new position in Logitech International during the 3rd quarter worth approximately $15,891,000. Marshall Wace LLP lifted its position in shares of Logitech International by 57.3% in the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after purchasing an additional 164,307 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Logitech International in the 3rd quarter valued at $12,597,000. 45.76% of the stock is 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.