Logitech International (NASDAQ:LOGI) Shares Gap Up to $63.77

Shares of Logitech International S.A. (NASDAQ:LOGI – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $63.77, but opened at $65.49. Logitech International shares last traded at $65.78, with a volume of 195,542 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LOGI shares. Barclays boosted their price target on shares of Logitech International from $60.00 to $71.00 in a report on Wednesday, May 3rd. Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $40.00 to $56.00 in a research report on Monday, May 1st. Citigroup raised their target price on shares of Logitech International from $60.00 to $73.00 in a report on Wednesday, May 3rd. StockNews.com started coverage on shares of Logitech International in a report on Thursday. They issued a “hold” rating on the stock. Finally, Loop Capital raised their price target on Logitech International from $50.00 to $55.00 in a research note on Thursday, January 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $64.67.

Logitech International Stock Up 2.5 %

The firm has a fifty day moving average price of $58.26 and a two-hundred day moving average price of $58.37. The stock has a market capitalization of $10.70 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.80 and a beta of 0.90.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $56.36, for a total value of $140,900.00. Following the completion of the transaction, the insider now directly owns 14,784 shares of the company’s stock, valued at $833,226.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Logitech International

Several institutional investors have recently made changes to their positions in LOGI. Vontobel Holding Ltd. grew its stake in Logitech International by 105.8% in the first quarter. Vontobel Holding Ltd. now owns 7,890,988 shares of the technology company’s stock valued at $458,050,000 after purchasing an additional 4,057,112 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Logitech International by 2.2% in the third quarter. Vanguard Group Inc. now owns 5,313,623 shares of the technology company’s stock valued at $244,427,000 after acquiring an additional 113,618 shares during the period. Norges Bank acquired a new position in shares of Logitech International during the 4th quarter worth approximately $238,096,000. Pictet Asset Management SA raised its stake in shares of Logitech International by 21.0% during the 3rd quarter. Pictet Asset Management SA now owns 3,094,924 shares of the technology company’s stock worth $144,483,000 after buying an additional 538,087 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Logitech International by 24.0% during the 1st quarter. Invesco Ltd. now owns 2,409,946 shares of the technology company’s stock worth $177,807,000 after buying an additional 466,632 shares during the period. Hedge funds and other institutional investors own 35.93% of the company’s stock.

Logitech International Company Profile

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Logitech International SA is a holding company, which engages in the design, manufacture, and marketing of peripherals for PCs, tablets, and other digital platforms. Its products include mice, keyboards, presentation remotes, headsets, and speakers. The firm offers solutions for healthy computing, wireless charging, streaming, virtual reality, schools, healthcare, and software and apps.