Logitech International (NASDAQ:LOGI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.
Several other equities research analysts have also issued reports on LOGI. Zacks Investment Research raised Logitech International from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Citigroup raised their price objective on Logitech International from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on Logitech International from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, ValuEngine raised Logitech International from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.20.
Logitech International (LOGI) traded up $0.28 during trading hours on Wednesday, hitting $39.23. The stock had a trading volume of 539,575 shares, compared to its average volume of 541,292. The company has a market cap of $6,473.04, a price-to-earnings ratio of 32.86 and a beta of 0.83. Logitech International has a 1-year low of $30.51 and a 1-year high of $43.54.
In related news, CEO Bracken Darrell sold 96,000 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $43.20, for a total transaction of $4,147,200.00. Following the completion of the sale, the chief executive officer now directly owns 783,427 shares of the company’s stock, valued at approximately $33,844,046.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vincent Pilette sold 81,302 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $42.35, for a total value of $3,443,139.70. Following the sale, the chief financial officer now directly owns 339,259 shares of the company’s stock, valued at $14,367,618.65. The disclosure for this sale can be found here. Insiders have sold a total of 292,673 shares of company stock valued at $12,376,204 over the last three months. 2.20% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of LOGI. Financial Gravity Companies Inc. bought a new stake in shares of Logitech International during the 4th quarter worth approximately $138,000. Atria Investments LLC bought a new stake in Logitech International during the 4th quarter valued at $204,000. Harbour Capital Advisors LLC bought a new stake in Logitech International during the 3rd quarter valued at $259,000. Dixon Hubard Feinour & Brown Inc. VA raised its position in Logitech International by 28.0% during the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 9,600 shares of the technology company’s stock valued at $324,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Yorktown Management & Research Co Inc bought a new stake in Logitech International during the 4th quarter valued at $336,000. 35.10% of the stock is owned by hedge funds and other 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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