Logitech International (NASDAQ:LOGI) Sees Strong Trading Volume – Time to Buy?

Shares of Logitech International S.A. (NASDAQ:LOGI) saw strong trading volume on Tuesday . 177,162 shares traded hands during mid-day 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

Several research analysts recently issued reports on the company. Barclays lowered their target price on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Bank of America downgraded Logitech International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $114.00 to $92.00 in a report on Monday, December 16th. Loop Capital decreased their price target 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. Wedbush reiterated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.88.

Logitech International Stock Performance

The business has a 50 day simple moving average of $81.91 and a 200-day simple moving average of $86.30. The stock has a market cap of $13.76 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.92 and a beta of 0.77.

Insider Buying and Selling at Logitech International

In other Logitech International news, Director Guy Gecht acquired 2,500 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $81.12 per share, with a total value of $202,800.00. Following the completion of the acquisition, the director now owns 18,503 shares of the company’s stock, valued at $1,500,963.36. This trade represents a 15.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

Several institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Logitech International during the third quarter worth about $105,000. World Investment Advisors LLC purchased a new position in shares of Logitech International in the 3rd quarter worth about $12,597,000. Barclays PLC grew its position in Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Logitech International in the third quarter worth approximately $15,891,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Logitech International in the 3rd quarter worth $421,000. 45.76% of the stock is currently 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.