Logitech International (NASDAQ:LOGI) Sees Large Volume Increase on Analyst Upgrade

Shares of Logitech International S.A. (NASDAQ:LOGI) saw unusually-high trading volume on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $93.00 to $99.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Approximately 647,954 shares traded hands during trading, an increase of 11% from the previous session’s volume of 581,683 shares.The stock last traded at $89.95 and had previously closed at $87.22.

LOGI has been the topic of a number of other research reports. Bank of America lowered shares of Logitech International from a “buy” rating to a “neutral” rating and cut their price target for the company from $114.00 to $92.00 in a research note on Monday, December 16th. Barclays lowered their target price on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research note on Wednesday, October 23rd. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Finally, Loop Capital dropped their target price on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $93.63.

Insider Activity

In related news, Director Guy Gecht acquired 2,500 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Logitech International

A number of large investors have recently made changes to their positions in LOGI. MassMutual Private Wealth & Trust FSB grew its holdings in Logitech International by 56.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after buying an additional 233 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Logitech International in the second quarter valued at approximately $63,000. Benjamin F. Edwards & Company Inc. grew its position in Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock worth $82,000 after buying an additional 495 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in Logitech International by 115,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,153 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Logitech International in the 3rd quarter valued at $105,000. Institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 2.9 %

The stock has a market capitalization of $14.19 billion, a P/E ratio of 19.99, a P/E/G ratio of 2.74 and a beta of 0.77. The business has a 50-day moving average price of $82.83 and a two-hundred day moving average price of $85.71.

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.