Intech Investment Management LLC Grows Position in Logitech International S.A. $LOGI

Intech Investment Management LLC increased its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 62.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 97,832 shares of the technology company’s stock after buying an additional 37,772 shares during the quarter. Intech Investment Management LLC’s holdings in Logitech International were worth $10,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its stake in Logitech International by 43.3% during the 4th quarter. Park Avenue Securities LLC now owns 28,846 shares of the technology company’s stock worth $2,891,000 after buying an additional 8,717 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Logitech International by 28.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 339,790 shares of the technology company’s stock worth $37,015,000 after buying an additional 74,772 shares during the last quarter. Compagnie Lombard Odier SCmA grew its stake in Logitech International by 8.7% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock worth $26,777,000 after buying an additional 20,866 shares during the last quarter. AMJ Financial Wealth Management purchased a new position in shares of Logitech International in the 3rd quarter valued at approximately $3,294,000. Finally, Willis Investment Counsel grew its stake in shares of Logitech International by 40.0% in the 4th quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock valued at $4,284,000 after purchasing an additional 12,221 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

LOGI opened at $121.87 on Friday. The business has a 50 day simple moving average of $99.20 and a 200-day simple moving average of $99.97. The stock has a market capitalization of $17.86 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.84 and a beta of 1.07. Logitech International S.A. has a 12 month low of $81.98 and a 12 month high of $123.57.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. Research analysts anticipate that Logitech International S.A. will post 5.16 EPS for the current year.

Wall Street Analysts Forecast Growth

LOGI has been the topic of several analyst reports. UBS Group downgraded Logitech International from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 17th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of Logitech International in a research note on Wednesday, May 6th. Citigroup lifted their target price on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Barclays lifted their target price on Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.67.

Logitech International Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.