Logitech International (NASDAQ:LOGI) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Logitech International (NASDAQ:LOGI) from an underweight rating to an equal weight rating in a research note released on Thursday, MarketBeat Ratings reports. Morgan Stanley currently has $92.00 price target on the technology company’s stock, up from their prior price target of $73.00.

A number of other brokerages have also issued reports on LOGI. Wedbush restated a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research note on Wednesday. Barclays cut their target price on Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Bank of America cut Logitech International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $114.00 to $92.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. increased their price objective on Logitech International from $93.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Finally, StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.75.

Logitech International Stock Down 0.4 %

LOGI opened at $91.18 on Thursday. The company has a market cap of $14.42 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. The firm’s 50-day moving average price is $83.84 and its 200-day moving average price is $85.65. Logitech International has a 52-week low of $74.72 and a 52-week high of $102.59.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its holdings in shares of Logitech International by 2,085.3% during the 2nd quarter. Toronto Dominion Bank now owns 63,439 shares of the technology company’s stock valued at $6,146,000 after purchasing an additional 60,536 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in Logitech International in the third quarter valued at $1,431,000. Assetmark Inc. raised its position in shares of Logitech International by 6,766.2% in the third quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock worth $4,418,000 after acquiring an additional 48,514 shares during the period. Summit Global Investments purchased a new stake in shares of Logitech International during the 3rd quarter worth about $1,299,000. Finally, Strengthening Families & Communities LLC grew its position in shares of Logitech International by 9.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock valued at $404,000 after acquiring an additional 378 shares during the period. 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.