Logitech International S.A. (NASDAQ:LOGI) Receives New Coverage from Analysts at Loop Capital
Analysts at Loop Capital started coverage on shares of Logitech International S.A. (NASDAQ:LOGI) in a research note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.
A number of other research analysts also recently commented on LOGI. Aegis initiated coverage on shares of Logitech International in a research report on Tuesday, June 13th. They set a “buy” rating and a $48.00 price objective on the stock. Citigroup Inc. initiated coverage on shares of Logitech International in a research report on Thursday, July 6th. They set a “buy” rating and a $44.00 price objective on the stock. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.98.
Shares of Logitech International (LOGI) traded up 4.94% during trading on Monday, hitting $40.75. 1,677,851 shares of the company’s stock were exchanged. The firm has a market capitalization of $6.67 billion, a PE ratio of 32.86 and a beta of 0.57. Logitech International has a 1-year low of $16.79 and a 1-year high of $40.82. The stock’s 50 day moving average is $37.26 and its 200 day moving average is $32.32.
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In other Logitech International news, SVP Marcel Stolk sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly 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 accessible through this hyperlink. Insiders sold 295,363 shares of company stock valued at $9,840,515 over the last three months. Insiders own 1.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Jackson Square Partners LLC boosted its stake in shares of Logitech International by 8,331.8% in the third quarter. Jackson Square Partners LLC now owns 4,524,573 shares of the technology company’s stock worth $101,543,000 after buying an additional 4,470,912 shares during the last quarter. Norges Bank purchased a new stake in shares of Logitech International during the fourth quarter worth $100,341,000. JPMorgan Chase & Co. boosted its stake in shares of Logitech International by 48.2% in the third quarter. JPMorgan Chase & Co. now owns 4,736,154 shares of the technology company’s stock worth $106,374,000 after buying an additional 1,539,396 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Logitech International by 40.3% in the first quarter. Acadian Asset Management LLC now owns 4,290,144 shares of the technology company’s stock worth $136,513,000 after buying an additional 1,231,790 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Logitech International during the fourth quarter worth $25,534,000. Institutional investors and hedge funds own 37.79% of the company’s stock.
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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