Logitech International (NASDAQ:LOGI) Sees Large Volume Increase

Shares of Logitech International S.A. (NASDAQ:LOGI) saw an uptick in trading volume on Monday . 309,290 shares were traded during mid-day trading, a decline of 31% from the previous session’s volume of 448,332 shares.The stock last traded at $79.05 and had previously closed at $79.26.

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of research analyst reports. Citigroup increased their price target on Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Berenberg Bank began coverage on Logitech International in a report on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a report on Tuesday, April 16th. Barclays upped their price objective on Logitech International from $96.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.43.

Logitech International Stock Up 0.8 %

The firm has a market capitalization of $12.63 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 1.65 and a beta of 0.74. The company’s 50 day moving average is $87.14 and its 200 day moving average is $86.44.

Insider Activity

In other Logitech International news, COO Prakash Arunkundrum sold 699 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the sale, the chief operating officer now directly owns 67,848 shares in the company, valued at $6,106,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now directly owns 11,910 shares in the company, valued at $1,002,464.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Prakash Arunkundrum sold 699 shares of Logitech International stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the transaction, the chief operating officer now owns 67,848 shares in the company, valued at approximately $6,106,320. The disclosure for this sale can be found here. In the last three months, insiders sold 24,572 shares of company stock worth $2,207,555. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Logitech International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Claro Advisors LLC raised its holdings in shares of Logitech International by 6.2% during the first quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock valued at $200,000 after purchasing an additional 131 shares during the period. CWM LLC boosted its position in shares of Logitech International by 16.9% during the 3rd quarter. CWM LLC now owns 1,127 shares of the technology company’s stock worth $78,000 after purchasing an additional 163 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Logitech International by 65.6% during the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after purchasing an additional 168 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Logitech International by 4.7% during the 4th quarter. First Citizens Bank & Trust Co. now owns 6,594 shares of the technology company’s stock worth $627,000 after purchasing an additional 297 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of Logitech International by 0.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 37,008 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 303 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.