Logitech International (NASDAQ:LOGI) Upgraded to “Neutral” at UBS Group

UBS Group upgraded shares of Logitech International (NASDAQ:LOGI) from a sell rating to a neutral rating in a research report released on Wednesday morning, Marketbeat.com reports.

Several other brokerages have also recently commented on LOGI. Barclays dropped their target price 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. Wedbush reiterated a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a report on Wednesday, October 23rd. Loop Capital reduced their target price on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Logitech International currently has an average rating of “Hold” and an average target price of $93.00.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $79.58 on Wednesday. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.77 and a beta of 0.81. The company has a 50 day moving average of $83.93 and a 200-day moving average of $89.11. Logitech International has a one year low of $74.72 and a one year high of $102.59.

Logitech International Increases Dividend

The firm also recently announced an annual dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th were paid a dividend of $1.3687 per share. This represents a yield of 1.4%. This is a boost from Logitech International’s previous annual dividend of $1.19. The ex-dividend date of this dividend was Tuesday, September 24th.

Insider Buying and Selling at Logitech International

In other news, Director Guy Gecht purchased 2,500 shares of the company’s stock in a transaction on 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 directly owns 18,503 shares of the company’s stock, valued at $1,500,963.36. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Logitech International by 76.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,841 shares of the technology company’s stock valued at $4,373,000 after acquiring an additional 21,106 shares during the last quarter. Hsbc Holdings PLC raised its position in Logitech International by 380.7% during the second 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in Logitech International by 166.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock valued at $123,759,000 after purchasing an additional 798,759 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Logitech International by 2,085.3% in the second quarter. Toronto Dominion Bank now owns 63,439 shares of the technology company’s stock valued at $6,146,000 after buying an additional 60,536 shares during the last quarter. Finally, SpiderRock Advisors LLC bought a new position in shares of Logitech International during the 3rd quarter worth approximately $1,431,000. Institutional investors and hedge funds 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.