Logitech International’s (LOGI) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Logitech International (NASDAQ:LOGI) in a research note released on Tuesday morning, Benzinga reports. Wedbush currently has a $92.00 price target on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Barclays boosted their price objective on shares of Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Berenberg Bank initiated coverage on shares of Logitech International in a report on Thursday, March 14th. They issued a buy rating and a $111.00 price target for the company. Deutsche Bank Aktiengesellschaft reissued a sell rating on shares of Logitech International in a research report on Tuesday, April 16th. Finally, StockNews.com lowered shares of Logitech International from a strong-buy rating to a buy rating in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $92.43.

Logitech International Stock Performance

Shares of Logitech International stock opened at $79.26 on Tuesday. The firm’s 50-day simple moving average is $87.27 and its 200-day simple moving average is $86.17. Logitech International has a twelve month low of $53.91 and a twelve month high of $96.66. The firm has a market cap of $12.53 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.66 and a beta of 0.74.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Logitech International news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the transaction, the chief operating officer now owns 67,848 shares in the company, valued at $6,106,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,572 shares of company stock valued at $2,207,555. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Logitech International by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after acquiring an additional 84,179 shares during the period. Vontobel Holding Ltd. increased its holdings in Logitech International by 2.3% in the 4th quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after buying an additional 121,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Logitech International by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after buying an additional 760,263 shares in the last quarter. Norges Bank bought a new stake in Logitech International in the 4th quarter worth about $214,130,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Logitech International by 20.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after purchasing an additional 306,948 shares during the period. 45.76% of the stock is currently owned by institutional investors.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.