Logitech International (NASDAQ:LOGI) Sees Large Volume Increase – Here’s What Happened

Logitech International S.A. (NASDAQ:LOGI) saw strong trading volume on Tuesday . 177,162 shares traded hands during trading, a decline of 48% from the previous session’s volume of 337,854 shares.The stock last traded at $89.48 and had previously closed at $86.35.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LOGI. Loop Capital cut their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research note on Monday, October 28th. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Barclays lowered their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.88.

Logitech International Stock Performance

The firm’s 50-day moving average price is $81.78 and its two-hundred day moving average price is $86.36. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.92 and a beta of 0.77.

Insider Activity

In related news, Director Guy Gecht acquired 2,500 shares of Logitech International stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the acquisition, the director now owns 18,503 shares in the company, valued at approximately $1,500,963.36. This represents a 15.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently made changes to their positions in LOGI. EverSource Wealth Advisors LLC raised its position in Logitech International by 6.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock valued at $200,000 after purchasing an additional 128 shares during the period. Rosenberg Matthew Hamilton lifted its stake in Logitech International by 5.8% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,339 shares of the technology company’s stock worth $210,000 after acquiring an additional 128 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Logitech International by 0.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock valued at $6,331,000 after acquiring an additional 168 shares during the period. Investment Management Corp of Ontario grew its position in Logitech International by 0.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after acquiring an additional 170 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in Logitech International by 5.9% during the second quarter. Evergreen Capital Management LLC now owns 3,510 shares of the technology company’s stock worth $340,000 after purchasing an additional 194 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

About Logitech International

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.