Wedbush Reiterates “Neutral” Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a research report issued to clients and investors on Wednesday,RTT News reports. They presently have a $88.00 price objective on the technology company’s stock. Wedbush’s price target would indicate a potential downside of 3.88% from the stock’s current price.

LOGI has been the subject of several other reports. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Bank of America cut Logitech International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $114.00 to $92.00 in a research note on Monday, December 16th. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Loop Capital dropped their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on Logitech International from $93.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.75.

Logitech International Stock Up 4.2 %

LOGI stock opened at $91.55 on Wednesday. Logitech International has a twelve month low of $74.72 and a twelve month high of $102.59. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.83 and a beta of 0.77. The business’s fifty day simple moving average is $83.57 and its two-hundred day simple moving average is $85.74.

Institutional Trading of Logitech International

Hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Logitech International by 56.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock worth $53,000 after purchasing an additional 233 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Logitech International during the second quarter valued at $63,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Logitech International by 139.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after acquiring an additional 495 shares during the period. Transamerica Financial Advisors Inc. raised its stake in Logitech International by 115,300.0% in 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 last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Logitech International during the 3rd quarter valued at about $105,000. 45.76% of the stock is 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.