Logitech International (NASDAQ:LOGI) Downgraded by Bank of America to Neutral

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 morning, Marketbeat.com reports. The firm currently has $92.00 price target on the technology company’s stock, down from their prior price target of $114.00.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. reduced their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Wedbush restated a “neutral” rating and set a $88.00 price target on shares of Logitech International in a report on Wednesday, October 23rd. Barclays reduced their price objective on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Loop Capital lowered their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.88.

Logitech International Price Performance

LOGI opened at $82.41 on Monday. Logitech International has a fifty-two week low of $74.72 and a fifty-two week high of $102.59. The company’s 50 day moving average price is $82.57 and its two-hundred day moving average price is $88.15. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.94 and a beta of 0.78.

Insiders Place Their Bets

In other Logitech International news, Director Guy Gecht purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Logitech International during the 3rd quarter worth approximately $105,000. World Investment Advisors LLC purchased a new stake in Logitech International during the 3rd quarter valued at $12,597,000. Barclays PLC increased its holdings in Logitech International by 64.2% during the 3rd 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 period. Public Employees Retirement System of Ohio bought a new stake in shares of Logitech International during the 3rd quarter valued at about $15,891,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Logitech International during the third quarter worth about $421,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

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.