Logitech International (NASDAQ:LOGI) Upgraded to Equal Weight at Morgan Stanley

Logitech International (NASDAQ:LOGI) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage presently has a $92.00 target price on the technology company’s stock, up from their previous target price of $73.00. Morgan Stanley’s price objective indicates a potential upside of 4.72% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Barclays decreased their price target on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research note on Wednesday. StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised their target price on shares of Logitech International from $93.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and an average price target of $95.75.

Logitech International Price Performance

Shares of Logitech International stock opened at $87.85 on Thursday. The business has a 50-day moving average of $83.30 and a 200-day moving average of $85.70. The company has a market capitalization of $13.89 billion, a PE ratio of 19.57, a P/E/G ratio of 2.83 and a beta of 0.77. Logitech International has a 1-year low of $74.72 and a 1-year high of $102.59.

Institutional Investors Weigh In On Logitech International

A number of hedge funds have recently made changes to their positions in LOGI. EverSource Wealth Advisors LLC raised its holdings in Logitech International by 6.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock worth $200,000 after purchasing an additional 128 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Logitech International by 5.8% during the third quarter. Rosenberg Matthew Hamilton now owns 2,339 shares of the technology company’s stock worth $210,000 after purchasing an additional 128 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Logitech International by 0.3% during the second quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock worth $6,331,000 after purchasing an additional 168 shares in the last quarter. Investment Management Corp of Ontario raised its holdings in Logitech International by 0.4% during the third quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock worth $3,629,000 after purchasing an additional 170 shares in the last quarter. Finally, Tealwood Asset Management Inc. raised its holdings in Logitech International by 1.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

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.