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

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

A number of other brokerages have also issued reports on LOGI. JPMorgan Chase & Co. lowered 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 report on Wednesday, October 23rd. Loop Capital dropped their target price on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Barclays reduced 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. Finally, Wedbush reaffirmed a “neutral” rating and issued a $88.00 price target 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 company’s stock. According to MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and a consensus target price of $92.88.

Logitech International Price Performance

NASDAQ LOGI opened at $81.66 on Monday. Logitech International has a 12 month low of $74.72 and a 12 month high of $102.59. The company has a market capitalization of $12.91 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. The firm’s fifty day moving average price is $82.46 and its 200 day moving average price is $88.00.

Insider Buying and Selling at Logitech International

In other news, Director Guy Gecht purchased 2,500 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the purchase, the director now directly owns 18,503 shares of the company’s stock, valued at $1,500,963.36. The trade was a 15.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LOGI. Acadian Asset Management LLC increased its position in shares of 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 acquiring an additional 457,630 shares during the last quarter. Barclays PLC raised 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 valued at $451,426,000 after buying an additional 1,967,133 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Logitech International by 3.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company’s stock worth $219,611,000 after purchasing an additional 89,788 shares during the period. Renaissance Technologies LLC lifted its position in Logitech International by 8.0% in the second quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock worth $157,324,000 after purchasing an additional 120,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Logitech International by 1.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,097,951 shares of the technology company’s stock valued at $98,348,000 after acquiring an additional 19,046 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

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.