Logitech International (NASDAQ:LOGI) Sees Large Volume Increase – Time to Buy?

Logitech International S.A. (NASDAQ:LOGI) shares saw unusually-high trading volume on Tuesday . Approximately 177,162 shares traded hands during trading, a decline of 48% from the previous session’s volume of 337,854 shares.The stock last traded at $89.48 and had previously closed at $86.35.

Analysts Set New Price Targets

LOGI has been the subject of several analyst reports. Loop Capital reduced their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. Bank of America lowered Logitech International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $114.00 to $92.00 in a report on Monday, December 16th. Wedbush reissued a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. cut their target price on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.88.

Logitech International Stock Performance

The company has a 50-day moving average price of $81.91 and a 200-day moving average price of $86.30. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77.

Insider Activity at Logitech International

In related news, Director Guy Gecht bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price 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 approximately $1,500,963.36. The trade was a 15.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Logitech International in the third quarter worth $105,000. World Investment Advisors LLC acquired a new position in shares of Logitech International during the third quarter worth $12,597,000. Barclays PLC raised its position in Logitech International by 64.2% in the third 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 last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Logitech International during the third quarter worth about $15,891,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Logitech International in the third quarter valued at approximately $421,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.