Logitech International S.A. (NASDAQ:LOGI) Coverage Initiated at Citigroup Inc.
Analysts at Citigroup Inc. initiated coverage on shares of Logitech International S.A. (NASDAQ:LOGI) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $44.00 price target on the technology company’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 19.14% from the company’s previous close.
Separately, Aegis started coverage on Logitech International in a report on Tuesday, June 13th. They set a “buy” rating and a $48.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $33.63.
Shares of Logitech International (LOGI) opened at 36.93 on Thursday. Logitech International has a 12 month low of $15.32 and a 12 month high of $38.34. The stock has a market capitalization of $6.04 billion, a PE ratio of 29.78 and a beta of 0.57. The company’s 50 day moving average price is $36.38 and its 200 day moving average price is $30.96.
In related news, SVP Marcel Stolk sold 95,363 shares of Logitech International stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $33.10, for a total transaction of $3,156,515.30. Following the completion of the transaction, the senior vice president now directly owns 200,839 shares of the company’s stock, valued at $6,647,770.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP L Joseph Sullivan sold 100,000 shares of Logitech International stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $32.68, for a total value of $3,268,000.00. Following the transaction, the vice president now directly owns 264,664 shares of the company’s stock, valued at $8,649,219.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 295,363 shares of company stock valued at $9,840,515. 1.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new position in Logitech International during the first quarter valued at $282,000. Boston Advisors LLC bought a new position in Logitech International during the first quarter valued at $351,000. USA Financial Portformulas Corp bought a new position in Logitech International during the fourth quarter valued at $267,000. AQR Capital Management LLC increased its position in Logitech International by 45.6% in the fourth quarter. AQR Capital Management LLC now owns 211,205 shares of the technology company’s stock valued at $5,278,000 after buying an additional 66,160 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Logitech International during the fourth quarter valued at $3,346,000. 37.81% of the stock is owned by institutional investors.
About Logitech International
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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