Bank of America Downgrades Logitech International (NASDAQ:LOGI) to Neutral

Logitech International (NASDAQ:LOGI - Get Free Report) was downgraded by research analysts at Bank of America from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Monday, MarketBeat reports. They currently have a $92.00 price target on the technology company's stock, down from their prior price target of $114.00. Bank of America's price objective suggests a potential upside of 11.64% from the stock's current price.

Several other analysts have also recently weighed in on LOGI. UBS Group upgraded shares of Logitech International from a "sell" rating to a "neutral" rating in a research report on Wednesday, November 20th. Wedbush reiterated a "neutral" rating and issued a $88.00 target price on shares of Logitech International in a research report on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. 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 report on Monday, October 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Logitech International from $98.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $92.88.

Logitech International Trading Down 2.3 %

Shares of Logitech International stock traded down $1.98 on Monday, hitting $82.41. 715,805 shares of the company traded hands, compared to its average volume of 490,404. The firm's 50-day simple moving average is $82.63 and its 200 day simple moving average is $88.26. The company has a market cap of $13.03 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.94 and a beta of 0.78. Logitech International has a 12-month low of $74.72 and a 12-month high of $102.59.

Insiders Place Their Bets

In related news, Director Guy Gecht bought 2,500 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $81.12 per share, with a total value of $202,800.00. Following the purchase, the director now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On Logitech International

Large investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Logitech International during the 2nd quarter valued at about $35,000. Employees Retirement System of Texas bought a new stake in shares of Logitech International during the 2nd quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of 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 purchasing an additional 495 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake in shares of 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 purchasing an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Logitech International during the 3rd quarter valued at about $105,000. Institutional investors own 45.76% of the company's stock.

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.