Logitech International S.A. $LOGI Stock: Vest Financial LLC Raises Stake

Vest Financial LLC lifted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 53.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,856 shares of the technology company’s stock after purchasing an additional 7,635 shares during the quarter. Vest Financial LLC’s holdings in Logitech International were worth $2,207,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. purchased a new position in Logitech International in the 3rd quarter worth approximately $14,372,000. Strengthening Families & Communities LLC purchased a new stake in shares of Logitech International during the 3rd quarter valued at $44,000. Quadrant Capital Group LLC purchased a new stake in shares of Logitech International during the 3rd quarter valued at $998,000. Willis Investment Counsel bought a new stake in shares of Logitech International during the 3rd quarter worth $7,837,000. Finally, Columbia Asset Management bought a new stake in shares of Logitech International during the 3rd quarter worth $379,000. 45.76% of the stock is currently owned by institutional investors.

Logitech International Stock Performance

LOGI stock opened at $109.66 on Friday. The firm has a market cap of $16.08 billion, a P/E ratio of 20.12, a P/E/G ratio of 4.19 and a beta of 1.14. The firm’s fifty day moving average is $101.64 and its 200 day moving average is $103.01. Logitech International S.A. has a 52 week low of $83.32 and a 52 week high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that Logitech International S.A. will post 5.14 EPS for the current year.

Insider Activity at Logitech International

In other 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 approximately $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on LOGI. Bank of America lowered shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a research report on Tuesday, June 30th. Morgan Stanley lowered their price target on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Wedbush dropped their price target on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen raised Logitech International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and an average price target of $104.14.

About Logitech International

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.