Logitech International (NASDAQ:LOGI) Upgraded at UBS Group

UBS Group upgraded shares of Logitech International (NASDAQ:LOGI) from a sell rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other research firms also recently weighed in on LOGI. Loop Capital decreased 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. JPMorgan Chase & Co. lowered their price objective on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research report on Wednesday, October 23rd. Finally, Barclays lowered their price target on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.00.

Logitech International Price Performance

NASDAQ LOGI opened at $79.58 on Wednesday. The company’s fifty day moving average is $83.93 and its two-hundred day moving average is $89.11. Logitech International has a 52-week low of $74.72 and a 52-week high of $102.59. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.77 and a beta of 0.81.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th were given a dividend of $1.3687 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a dividend yield of 1.4%. This is a boost from Logitech International’s previous annual dividend of $1.19.

Insider Activity at Logitech International

In other Logitech International news, Director Guy Gecht purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $81.12 per share, with a total value of $202,800.00. Following the acquisition, the director now directly owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. This trade represents a 15.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Logitech International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in Logitech International by 6.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock worth $200,000 after acquiring an additional 128 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Logitech International by 5.8% during the third quarter. Rosenberg Matthew Hamilton now owns 2,339 shares of the technology company’s stock worth $210,000 after purchasing an additional 128 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Logitech International by 2.4% during the second quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the technology company’s stock valued at $627,000 after purchasing an additional 153 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Logitech International by 0.3% in the second quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock valued at $6,331,000 after purchasing an additional 168 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its position in Logitech International by 0.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock worth $3,629,000 after purchasing an additional 170 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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.