Logitech International (NASDAQ:LOGI) Sees Unusually-High Trading Volume After Analyst Upgrade

Logitech International S.A. (NASDAQ:LOGI) saw an uptick in trading volume on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $93.00 to $99.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. 647,954 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 581,683 shares.The stock last traded at $89.95 and had previously closed at $87.22.

LOGI has been the subject of a number of other research reports. Barclays reduced their target price on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Loop Capital cut their price objective on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush reiterated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a report on Wednesday, October 23rd. Finally, Bank of America lowered Logitech International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $114.00 to $92.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.63.

Insiders Place Their Bets

In other Logitech International news, Director Guy Gecht purchased 2,500 shares of the stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost 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. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC grew its position 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 purchasing an additional 1,967,133 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 valued at $219,611,000 after purchasing an additional 89,788 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Logitech International by 2,315.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after buying an additional 1,385,493 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Logitech International by 1.8% during the third 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 buying an additional 19,046 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Logitech International by 57.3% during the second quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after buying an additional 164,307 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Stock Up 3.4 %

The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 2.74 and a beta of 0.77. The business has a 50-day moving average of $83.09 and a two-hundred day moving average of $85.69.

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.