Logitech International (NASDAQ:LOGI) Receives Neutral Rating from Wedbush

Wedbush reissued their neutral rating on shares of Logitech International (NASDAQ:LOGI) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $92.00 price objective on the technology company’s stock.

Several other analysts also recently commented on the company. Citigroup raised their price objective on Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Barclays increased 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. Deutsche Bank Aktiengesellschaft reaffirmed a sell rating on shares of Logitech International in a research report on Tuesday, April 16th. StockNews.com cut Logitech International from a strong-buy rating to a buy rating in a research note on Thursday, March 14th. Finally, Morgan Stanley reaffirmed an underweight rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $92.43.

Logitech International Stock Performance

Shares of LOGI stock opened at $78.39 on Tuesday. The firm’s 50 day moving average price is $87.01 and its two-hundred day moving average price is $86.49. The stock has a market cap of $12.40 billion, a PE ratio of 25.62, a PEG ratio of 1.65 and a beta of 0.74. Logitech International has a 52-week low of $53.91 and a 52-week high of $96.66.

Insider Buying and Selling

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the sale, the chief operating officer now owns 61,056 shares in the company, valued at $5,495,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the transaction, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at $5,495,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider now directly owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,572 shares of company stock worth $2,207,555. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Logitech International

Several large investors have recently made changes to their positions in LOGI. Diversify Advisory Services LLC bought a new stake in Logitech International during the first quarter worth $658,000. Norden Group LLC acquired a new stake in shares of Logitech International in the 1st quarter valued at $452,000. Naples Global Advisors LLC boosted its holdings in shares of Logitech International by 2.2% in the 1st quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company’s stock valued at $1,185,000 after purchasing an additional 291 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Logitech International by 327.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 34,764 shares of the technology company’s stock valued at $3,107,000 after purchasing an additional 26,624 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Logitech International by 1,932.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 480,655 shares of the technology company’s stock valued at $43,098,000 after purchasing an additional 457,006 shares in the last quarter. 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 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.