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

Logitech International (NASDAQ:LOGI) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Monday, MarketBeat.com reports. They currently have a $92.00 price target on the technology company’s stock, down from their prior price target of $114.00. Bank of America‘s price objective would indicate a potential upside of 9.02% from the company’s previous close.

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

Logitech International Stock Performance

LOGI opened at $84.39 on Monday. Logitech International has a 52-week low of $74.72 and a 52-week high of $102.59. The firm has a market capitalization of $13.35 billion, a PE ratio of 18.80, a PEG ratio of 1.94 and a beta of 0.78. The business’s 50-day simple moving average is $82.63 and its 200 day simple moving average is $88.26.

Insiders Place Their Bets

In other Logitech International news, Director Guy Gecht bought 2,500 shares of Logitech International stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $81.12 per share, with a total value of $202,800.00. Following the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Logitech International

Several large investors have recently bought and sold shares of LOGI. Ashton Thomas Private Wealth LLC bought a new position in shares of Logitech International in the second quarter worth about $35,000. Employees Retirement System of Texas bought a new stake in shares of Logitech International during the second quarter worth $63,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock worth $82,000 after buying an additional 495 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in shares of Logitech International by 115,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock valued at $104,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Logitech International in the 3rd quarter worth about $105,000. 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.