StockNews.com Upgrades Logitech International (NASDAQ:LOGI) to Buy

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

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on Logitech International from $93.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays cut their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research note on Wednesday. Bank of America cut shares of 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 note on Monday, December 16th. Finally, Loop Capital decreased their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.75.

Logitech International Stock Performance

LOGI opened at $91.18 on Thursday. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.74 and a beta of 0.77. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $102.59. The company has a fifty day moving average of $83.84 and a 200 day moving average of $85.72.

Institutional Investors Weigh In On Logitech International

Several hedge funds and other institutional investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its stake in Logitech International by 56.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock worth $53,000 after purchasing an additional 233 shares during the period. Employees Retirement System of Texas bought a new stake in Logitech International during the 2nd quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. boosted its position in Logitech International by 139.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after buying an additional 495 shares during the period. Transamerica Financial Advisors Inc. grew its stake in Logitech International by 115,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Logitech International during the third quarter worth approximately $105,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

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.