Logitech International (NASDAQ:LOGI) Shares Gap Down – Should You Sell?

Logitech International S.A. (NASDAQ:LOGI)’s share price gapped down before the market opened on Monday . The stock had previously closed at $84.39, but opened at $80.29. Logitech International shares last traded at $81.30, with a volume of 165,000 shares.

Analyst Upgrades and Downgrades

LOGI has been the topic of several recent analyst reports. UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Loop Capital lowered their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Bank of America cut shares of Logitech International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $114.00 to $92.00 in a report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a report on Wednesday, October 23rd. Finally, Barclays lowered their price target on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.88.

Logitech International Stock Performance

The firm has a market capitalization of $13.06 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. The business’s 50 day moving average is $82.63 and its two-hundred day moving average is $88.26.

Insider Activity

In other news, Director Guy Gecht purchased 2,500 shares of Logitech International stock in a transaction dated Thursday, October 24th. The stock was purchased at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the transaction, the director now directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in shares of Logitech International by 380.7% during the 2nd quarter. Hsbc Holdings PLC now owns 122,926 shares of the technology company’s stock worth $11,883,000 after acquiring an additional 97,353 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Logitech International by 2,085.3% during the 2nd quarter. Toronto Dominion Bank now owns 63,439 shares of the technology company’s stock worth $6,146,000 after acquiring an additional 60,536 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in shares of Logitech International during the 3rd quarter worth $1,431,000. Assetmark Inc. lifted its holdings in shares of Logitech International by 6,766.2% during the 3rd quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock worth $4,418,000 after acquiring an additional 48,514 shares during the last quarter. Finally, Summit Global Investments bought a new stake in shares of Logitech International during the 3rd quarter worth $1,299,000. 45.76% of the stock is currently 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.