Logitech International’s (LOGI) “Neutral” Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Logitech International (NASDAQ:LOGI) in a report released on Tuesday, Benzinga reports. Wedbush currently has a $92.00 price objective on the technology company’s stock.

A number of other equities analysts have also recently issued reports on LOGI. Barclays upped their price objective on shares of Logitech International from $96.00 to $104.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Citigroup increased their target price on shares of Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft reissued a sell rating on shares of Logitech International in a research note on Tuesday, April 16th. StockNews.com lowered shares of Logitech International from a strong-buy rating to a buy rating in a research note on Thursday, March 14th. Finally, Morgan Stanley restated an underweight rating and set a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $92.43.

Logitech International Price Performance

Logitech International stock opened at $79.26 on Tuesday. The firm has a market capitalization of $12.53 billion, a PE ratio of 25.90, a P/E/G ratio of 1.66 and a beta of 0.74. The company’s 50-day moving average is $87.27 and its 200-day moving average is $86.17. Logitech International has a fifty-two week low of $53.91 and a fifty-two week high of $96.66.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 650 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the transaction, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Logitech International news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Prakash Arunkundrum sold 699 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the transaction, the chief operating officer now directly owns 67,848 shares of the company’s stock, valued at approximately $6,106,320. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $2,207,555 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Institutional investors and hedge funds have recently bought and sold shares of the business. Impact Partnership Wealth LLC purchased a new stake in Logitech International during the 3rd quarter worth approximately $25,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Logitech International in the 4th quarter valued at $33,000. Global Retirement Partners LLC raised its position in Logitech International by 764.4% in the 1st quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after purchasing an additional 344 shares during the last quarter. Blue Trust Inc. raised its position in Logitech International by 65.6% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Logitech International by 529.4% in the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after purchasing an additional 360 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.