Morgan Stanley Upgrades Logitech International (NASDAQ:LOGI) to Equal Weight

Logitech International (NASDAQ:LOGI) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a $92.00 price objective on the technology company’s stock, up from their previous price objective of $73.00. Morgan Stanley’s price target suggests a potential upside of 0.90% from the company’s previous close.

LOGI has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their target price on Logitech International from $93.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday. UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Barclays decreased their price target on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, 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 report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.75.

Logitech International Stock Performance

Shares of LOGI stock opened at $91.18 on Thursday. Logitech International has a 1 year low of $74.72 and a 1 year high of $102.59. The stock has a market cap of $14.42 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. The business’s fifty day moving average is $83.84 and its 200-day moving average is $85.72.

Hedge Funds Weigh In On Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Logitech International by 56.0% during the fourth 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 purchased a new position in Logitech International during the 2nd quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. grew its stake in Logitech International by 139.4% during 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 in the last quarter. Transamerica Financial Advisors Inc. grew 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 valued at $104,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Logitech International during the third quarter valued at approximately $105,000. 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.