Park Avenue Securities LLC bought a new position in Logitech International S.A. (NASDAQ:LOGI – Free Report) during the third quarter, Holdings Channel reports. The fund bought 6,796 shares of the technology company’s stock, valued at approximately $686,000.
Other hedge funds have also modified their holdings of the company. Strengthening Families & Communities LLC acquired a new stake in shares of Logitech International during the third quarter worth $44,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Logitech International during the third quarter valued at $64,000. Rockefeller Capital Management L.P. boosted its position in shares of Logitech International by 15.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock valued at $86,000 after purchasing an additional 114 shares during the period. Fifth Third Bancorp boosted its position in shares of Logitech International by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after purchasing an additional 145 shares during the period. Finally, Farther Finance Advisors LLC acquired a new position in shares of Logitech International in the 3rd quarter valued at $117,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.
Logitech International Trading Up 7.8%
LOGI stock opened at $100.12 on Thursday. Logitech International S.A. has a 1 year low of $83.32 and a 1 year high of $129.66. The company has a fifty day simple moving average of $101.90 and a 200 day simple moving average of $99.71. The firm has a market cap of $14.68 billion, a PE ratio of 18.04, a PEG ratio of 4.91 and a beta of 1.21.
Logitech International (NASDAQ:LOGI – Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. Logitech International’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 earnings per share. As a group, analysts forecast that Logitech International S.A. will post 5.27 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on LOGI. Wedbush dropped their price target on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings lowered shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday. JPMorgan Chase & Co. dropped their price target on Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Finally, Barclays lifted their target price on shares of Logitech International from $101.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 28th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $106.29.
View Our Latest Report on LOGI
Insider Buying and Selling at Logitech International
In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the sale, the insider owned 37,097 shares of the company’s stock, valued at $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by corporate insiders.
Logitech International Company Profile
Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.
The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.
Recommended Stories
- Five stocks we like better than Logitech International
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Want to see what other hedge funds are holding LOGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Logitech International S.A. (NASDAQ:LOGI – Free Report).
Receive News & Ratings for Logitech International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Logitech International and related companies with MarketBeat.com's FREE daily email newsletter.
