Logitech International’s (LOGI) Neutral Rating Reiterated at Wedbush

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a research report issued on Tuesday, Benzinga reports. They currently have a $92.00 target price on the technology company’s stock. Wedbush’s price objective would suggest a potential upside of 15.81% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Barclays upped their price objective on shares of Logitech International from $96.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Citigroup increased their price target on shares of Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Morgan Stanley reissued an “underweight” rating and set a $75.00 target price (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.43.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $79.44 on Tuesday. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.65 and a beta of 0.74. Logitech International has a fifty-two week low of $53.91 and a fifty-two week high of $96.66. The firm’s 50-day simple moving average is $87.01 and its 200 day simple moving average is $86.49.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Logitech International news, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Prakash Arunkundrum sold 699 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total value of $62,910.00. Following the transaction, the chief operating officer now owns 67,848 shares in the company, valued at $6,106,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,572 shares of company stock worth $2,207,555. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Logitech International by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after buying an additional 84,179 shares during the period. Vontobel Holding Ltd. boosted its holdings in Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after acquiring an additional 121,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock valued at $267,457,000 after purchasing an additional 760,263 shares during the last quarter. Norges Bank bought a new stake in Logitech International during the 4th quarter valued at about $214,130,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Logitech International by 20.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock worth $174,162,000 after buying an additional 306,948 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.