Logitech International S.A. (NASDAQ:LOGI) Receives $93.00 Consensus PT from Analysts

Logitech International S.A. (NASDAQ:LOGI) has been given a consensus recommendation of “Hold” by the nine brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $93.00.

Several research firms have recently issued reports on LOGI. Barclays decreased their price objective on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price 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. Loop Capital lowered their price target on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th.

Logitech International Stock Down 0.3 %

Shares of Logitech International stock opened at $84.39 on Thursday. Logitech International has a 52-week low of $74.72 and a 52-week high of $102.59. The company has a market capitalization of $13.35 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.94 and a beta of 0.78. The company has a 50 day moving average of $82.63 and a 200 day moving average of $88.31.

Insider Transactions at Logitech International

In related 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 purchased at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the transaction, the director now directly owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. The trade was a 15.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its holdings 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 purchasing an additional 457,630 shares during the period. Barclays PLC lifted its stake in shares of Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after acquiring an additional 1,967,133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 acquiring an additional 89,788 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Logitech International by 8.0% during the second quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock worth $157,324,000 after acquiring an additional 120,000 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Logitech International by 166.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after purchasing an additional 798,759 shares in the last quarter. 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.