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

Logitech International S.A. (NASDAQ:LOGI) saw an uptick in trading volume on Tuesday . 177,162 shares were traded 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Bank of America downgraded shares of Logitech International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $114.00 to $92.00 in a report on Monday, December 16th. Loop Capital lowered their price target 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. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Wedbush reiterated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.88.

Logitech International Price Performance

The stock has a fifty day moving average of $81.78 and a 200 day moving average of $86.36. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 1.92 and a beta of 0.77.

Insider Buying and Selling at Logitech International

In related news, Director Guy Gecht bought 2,500 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 18,503 shares of the company’s stock, valued at $1,500,963.36. This represents a 15.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in Logitech International during the second quarter valued at $35,000. Employees Retirement System of Texas acquired a new stake in shares of Logitech International during the 2nd quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Logitech International by 139.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after purchasing an additional 495 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its position in Logitech International by 115,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Logitech International in the third quarter valued at approximately $105,000. Hedge funds and other institutional investors 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.