Wedbush Reiterates “Neutral” Rating for Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a research report issued on Wednesday,RTT News reports. They currently have a $88.00 target price on the technology company’s stock. Wedbush’s price objective indicates a potential downside of 3.88% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised their target price on Logitech International from $93.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday. Loop Capital dropped their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Finally, Bank of America lowered shares of Logitech International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $114.00 to $92.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.75.

Logitech International Stock Performance

NASDAQ:LOGI opened at $91.55 on Wednesday. The firm’s fifty day moving average is $83.57 and its two-hundred day moving average is $85.74. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.83 and a beta of 0.77. Logitech International has a one year low of $74.72 and a one year high of $102.59.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its position 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 purchasing an additional 60,536 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in Logitech International during the third quarter worth about $1,431,000. Assetmark Inc. increased its position in shares of Logitech International by 6,766.2% during the third quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock valued at $4,418,000 after acquiring an additional 48,514 shares during the last quarter. Summit Global Investments purchased a new stake in shares of Logitech International in the 3rd quarter valued at approximately $1,299,000. Finally, Strengthening Families & Communities LLC boosted its position in shares of Logitech International by 9.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock worth $404,000 after purchasing an additional 378 shares during the period. Hedge funds and other 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.