Logitech International SA (NASDAQ:LOGI) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 11,402,566 shares, a decline of 11.5% from the October 31st total of 12,878,253 shares. Approximately 7.7% of the shares of the company are short sold. Based on an average daily volume of 414,964 shares, the short-interest ratio is currently 27.5 days.

In other news, VP L Joseph Sullivan sold 162,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $24.24, for a total transaction of $3,939,000.00. Following the sale, the vice president now directly owns 240,661 shares in the company, valued at $5,833,622.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its stake in Logitech International SA by 5.0% in the third quarter. Wells Fargo & Company MN now owns 5,682 shares of the company’s stock valued at $128,000 after buying an additional 272 shares during the last quarter. World Asset Management Inc boosted its stake in Logitech International SA by 7.5% in the second quarter. World Asset Management Inc now owns 10,776 shares of the company’s stock valued at $175,000 after buying an additional 751 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Logitech International SA by 113.4% in the third quarter. Penserra Capital Management LLC now owns 5,620 shares of the company’s stock valued at $126,000 after buying an additional 2,987 shares during the last quarter. LMR Partners LLP boosted its stake in Logitech International SA by 12.4% in the third quarter. LMR Partners LLP now owns 27,091 shares of the company’s stock valued at $608,000 after buying an additional 2,999 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Logitech International SA by 13.7% in the second quarter. Nationwide Fund Advisors now owns 39,079 shares of the company’s stock valued at $636,000 after buying an additional 4,700 shares during the last quarter. 36.34% of the stock is owned by institutional investors.

Logitech International SA (NASDAQ:LOGI) opened at 24.48 on Thursday. The firm has a 50-day moving average price of $23.69 and a 200-day moving average price of $19.97. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 24.88 and a beta of 0.47. Logitech International SA has a 1-year low of $13.25 and a 1-year high of $25.87.

A number of analysts have weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $22.75 price target (up from $18.00) on shares of Logitech International SA in a research report on Wednesday, August 3rd. Morgan Stanley upgraded Logitech International SA from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, August 10th. Zacks Investment Research cut Logitech International SA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Brean Capital assumed coverage on Logitech International SA in a research report on Tuesday, October 25th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Logitech International SA from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $14.00 in a research report on Thursday, October 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.44.

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About Logitech International SA

Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.

5 Day Chart for NASDAQ:LOGI

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