Logitech International S.A. (LOGI) Position Raised by Private Advisor Group LLC
Private Advisor Group LLC increased its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 142.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,053 shares of the technology company’s stock after purchasing an additional 10,028 shares during the period. Private Advisor Group LLC’s holdings in Logitech International were worth $639,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOGI. Janney Montgomery Scott LLC acquired a new stake in Logitech International during the second quarter worth approximately $227,000. Fox Run Management L.L.C. acquired a new stake in Logitech International during the second quarter worth approximately $246,000. Koch Industries Inc. acquired a new stake in Logitech International during the first quarter worth approximately $282,000. BB&T Securities LLC acquired a new stake in Logitech International during the second quarter worth approximately $290,000. Finally, Eagle Asset Management Inc. acquired a new stake in Logitech International during the first quarter worth approximately $308,000. 37.84% of the stock is owned by institutional investors and hedge funds.
Shares of Logitech International S.A. (NASDAQ:LOGI) opened at 37.07 on Thursday. The firm has a market cap of $6.08 billion, a PE ratio of 27.94 and a beta of 0.57. Logitech International S.A. has a 52 week low of $21.14 and a 52 week high of $40.82. The firm has a 50-day moving average price of $35.51 and a 200-day moving average price of $34.50.
Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, July 24th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $529.95 million during the quarter, compared to analyst estimates of $521.24 million. Logitech International had a return on equity of 25.18% and a net margin of 9.15%. On average, equities research analysts predict that Logitech International S.A. will post $1.47 earnings per share for the current year.
In other Logitech International news, insider Luca Guerrino De sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.04, for a total transaction of $540,600.00. Following the completion of the transaction, the insider now owns 321,204 shares of the company’s stock, valued at approximately $11,576,192.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bracken Darrell sold 49,215 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.32, for a total value of $1,787,488.80. Following the transaction, the chief executive officer now directly owns 940,542 shares of the company’s stock, valued at approximately $34,160,485.44. The disclosure for this sale can be found here. Insiders have sold a total of 319,245 shares of company stock valued at $11,549,298 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.
LOGI has been the subject of several recent analyst reports. Zacks Investment Research cut Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Citigroup Inc. initiated coverage on Logitech International in a research note on Thursday, July 6th. They set a “buy” rating and a $44.00 target price for the company. Loop Capital initiated coverage on Logitech International in a research note on Monday, July 24th. They set a “buy” rating and a $48.00 target price for the company. Finally, Aegis initiated coverage on Logitech International in a research note on Tuesday, June 13th. They set a “buy” rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Logitech International has an average rating of “Buy” and a consensus price target of $35.68.
About Logitech International
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.
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