Logitech International (NASDAQ:LOGI) Sees Large Volume Increase - Here's Why

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) saw strong trading volume on Tuesday . 177,162 shares were traded during trading, a decline of 48% from the previous session's volume of 337,854 shares.The stock last traded at $89.48 and had previously closed at $86.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group raised Logitech International from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on Logitech International from $98.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Barclays reduced their price target on shares of Logitech International from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Bank of America cut shares of Logitech International from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $114.00 to $92.00 in a research note on Monday, December 16th. Finally, Wedbush reaffirmed a "neutral" rating and set a $88.00 target price on shares of Logitech International in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.88.

Logitech International Stock Up 0.8 %

The firm has a 50 day moving average of $81.82 and a 200-day moving average of $86.30. The company has a market cap of $13.76 billion, a P/E ratio of 19.38, a PEG ratio of 1.92 and a beta of 0.77.

Insider Buying and Selling at Logitech International

In related news, Director Guy Gecht bought 2,500 shares of the company's stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $81.12 per share, with a total value of $202,800.00. Following the transaction, the director now owns 18,503 shares in the company, valued at approximately $1,500,963.36. This trade represents a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Logitech International

A number of institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in Logitech International during the third quarter valued at approximately $105,000. World Investment Advisors LLC acquired a new stake in shares of Logitech International during the 3rd quarter worth approximately $12,597,000. Barclays PLC increased its holdings in shares of Logitech International by 64.2% during 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Logitech International in the 3rd quarter valued at $15,891,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Logitech International during the third quarter worth $421,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Company Profile

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.