Logitech International (NASDAQ:LOGI) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Logitech International (NASDAQ:LOGI) from an underweight rating to an equal weight rating in a research note published on Thursday morning, Marketbeat reports. Morgan Stanley currently has $92.00 target price on the technology company’s stock, up from their prior target price of $73.00.

Several other brokerages have also issued reports on LOGI. Wedbush reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research note on Wednesday. Bank of America lowered shares of Logitech International from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $114.00 to $92.00 in a report on Monday, December 16th. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price objective on Logitech International from $93.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Logitech International has an average rating of “Hold” and a consensus price target of $95.75.

Logitech International Stock Up 4.2 %

Shares of LOGI opened at $91.55 on Thursday. The stock’s fifty day simple moving average is $83.57 and its 200-day simple moving average is $85.74. The firm has a market capitalization of $14.48 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. Logitech International has a 12-month low of $74.72 and a 12-month high of $102.59.

Hedge Funds Weigh In On Logitech International

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its stake in Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after buying an additional 1,967,133 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Logitech International by 2,315.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after acquiring an additional 1,385,493 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Logitech International in the 3rd quarter valued at $15,891,000. Marshall Wace LLP boosted its stake in Logitech International by 57.3% in the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after purchasing an additional 164,307 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in Logitech International by 4,876.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock worth $13,798,000 after purchasing an additional 164,185 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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.