Logitech International S.A. (LOGI) Receives Average Recommendation of “Buy” from Brokerages
Shares of Logitech International S.A. (NASDAQ:LOGI) have earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $33.63.
Several analysts recently issued reports on LOGI shares. Citigroup Inc. started coverage on shares of Logitech International in a research report on Thursday. They set a “buy” rating and a $44.00 target price for the company. Aegis started coverage on shares of Logitech International in a research report on Tuesday, June 13th. They set a “buy” rating and a $48.00 target price for the company.
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In other news, SVP Marcel Stolk sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $34.16, for a total value of $3,416,000.00. Following the transaction, the senior vice president now owns 131,372 shares of the company’s stock, valued at $4,487,667.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 295,363 shares of company stock worth $9,840,515 in the last three months. Insiders own 1.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LOGI. Russell Investments Group Ltd. acquired a new stake in Logitech International during the fourth quarter worth about $3,346,000. Comerica Bank increased its stake in Logitech International by 12.9% in the fourth quarter. Comerica Bank now owns 9,795 shares of the technology company’s stock worth $250,000 after buying an additional 1,121 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Logitech International by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 308,563 shares of the technology company’s stock worth $7,643,000 after buying an additional 20,255 shares during the last quarter. AQR Capital Management LLC increased its stake 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 worth $5,278,000 after buying an additional 66,160 shares during the last quarter. Finally, USA Financial Portformulas Corp acquired a new stake in Logitech International during the fourth quarter worth about $267,000. 37.81% of the stock is currently owned by institutional investors.
Shares of Logitech International (NASDAQ:LOGI) opened at 36.93 on Monday. Logitech International has a 12 month low of $15.68 and a 12 month high of $38.34. The company has a market capitalization of $6.04 billion, a P/E ratio of 29.78 and a beta of 0.57. The firm has a 50-day moving average of $36.38 and a 200-day moving average of $30.96.
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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