Logitech International (NASDAQ:LOGI) Upgraded to "Neutral" at Bank of America

Bank of America upgraded shares of Logitech International (NASDAQ:LOGI - Free Report) from an underperform rating to a neutral rating in a research note published on Friday, MarketBeat.com reports. They currently have $73.00 price target on the technology company's stock, down from their prior price target of $90.00.

Other research analysts have also issued reports about the stock. Kepler Capital Markets raised shares of Logitech International from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Barclays increased their price target on Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Wedbush upgraded shares of Logitech International from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Morgan Stanley raised shares of Logitech International from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their price target on Logitech International from $99.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Logitech International has a consensus rating of "Hold" and an average price target of $97.71.

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Logitech International Stock Performance

Shares of LOGI stock traded up $5.72 during mid-day trading on Friday, hitting $71.29. The company's stock had a trading volume of 1,161,894 shares, compared to its average volume of 577,723. The company has a market cap of $11.27 billion, a PE ratio of 16.82, a P/E/G ratio of 2.61 and a beta of 0.97. The company's fifty day simple moving average is $93.45 and its 200-day simple moving average is $87.49. Logitech International has a 52 week low of $64.73 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, equities analysts anticipate that Logitech International will post 4.21 earnings per share for the current year.

Logitech International announced that its board has approved a share buyback plan on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the transaction, the insider now owns 7,348 shares in the company, valued at $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Logitech International

A number of hedge funds have recently bought and sold shares of LOGI. Barclays PLC lifted its position in Logitech International by 8.2% in the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock valued at $448,409,000 after acquiring an additional 414,236 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock valued at $402,802,000 after buying an additional 1,240,478 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Logitech International by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company's stock worth $341,610,000 after buying an additional 85,278 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Logitech International by 6.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company's stock worth $215,127,000 after buying an additional 146,338 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in Logitech International by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock worth $188,254,000 after buying an additional 266,167 shares during the last quarter. Institutional investors own 45.76% of the company's stock.

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.