Logitech International (NASDAQ:LOGI) Shares Gap Up – Should You Buy?

Logitech International S.A. (NASDAQ:LOGI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $87.85, but opened at $89.91. Logitech International shares last traded at $89.56, with a volume of 230,812 shares trading hands.

Analyst Upgrades and Downgrades

LOGI has been the subject of a number of research reports. Barclays dropped 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. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $73.00 to $92.00 in a research report on Thursday. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Loop Capital decreased their target price on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.75.

Logitech International Price Performance

The stock’s 50-day moving average is $83.30 and its 200 day moving average is $85.70. The company has a market cap of $14.43 billion, a PE ratio of 20.32, a PEG ratio of 2.83 and a beta of 0.77.

Institutional Investors Weigh In On Logitech International

Several institutional investors have recently added to or reduced their stakes in LOGI. Barclays PLC increased its holdings in Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after buying an additional 1,967,133 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Logitech International by 2,315.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after buying an additional 1,385,493 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Logitech International during the 3rd quarter valued at about $15,891,000. Marshall Wace LLP raised its stake in shares of Logitech International by 57.3% during the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock valued at $43,615,000 after buying an additional 164,307 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of 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 valued at $13,798,000 after buying an additional 164,185 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.