Logitech International (NASDAQ:LOGI) Shares Gap Up – Still a Buy?

Shares of Logitech International S.A. (NASDAQ:LOGI) gapped up before the market opened on Thursday . The stock had previously closed at $87.85, but opened at $89.91. Logitech International shares last traded at $89.56, with a volume of 230,812 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on LOGI. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $73.00 to $92.00 in a research note on Thursday. Wedbush reissued a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Logitech International from $93.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday. Loop Capital decreased their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, Barclays decreased their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Logitech International currently has a consensus rating of “Hold” and an average price target of $95.75.

Logitech International Stock Up 3.8 %

The firm has a market capitalization of $14.43 billion, a PE ratio of 20.32, a PEG ratio of 2.83 and a beta of 0.77. The business’s fifty day moving average price is $83.30 and its 200 day moving average price is $85.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LOGI. Barclays PLC grew its stake in shares of Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after acquiring an additional 1,385,493 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Logitech International in the third quarter worth $15,891,000. Marshall Wace LLP lifted its position in shares of Logitech International by 57.3% during the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock valued at $43,615,000 after acquiring an additional 164,307 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Logitech International by 4,876.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock valued at $13,798,000 after acquiring an additional 164,185 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

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.