Raymond James & Associates trimmed its holdings in Logitech (NASDAQ:LOGI) by 51.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,116 shares of the technology company’s stock after selling 42,465 shares during the quarter. Raymond James & Associates’ holdings in Logitech were worth $1,354,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in Logitech in the fourth quarter valued at approximately $138,000. Atria Investments LLC acquired a new position in Logitech in the fourth quarter valued at approximately $204,000. Yorktown Management & Research Co Inc acquired a new position in Logitech in the fourth quarter valued at approximately $336,000. Koch Industries Inc. acquired a new position in Logitech in the fourth quarter valued at approximately $412,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Logitech in the third quarter valued at approximately $670,000. 35.11% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ LOGI opened at $37.69 on Wednesday. Logitech has a twelve month low of $30.64 and a twelve month high of $43.54. The company has a market capitalization of $6,082.23, a price-to-earnings ratio of 32.48, a PEG ratio of 4.54 and a beta of 0.90.
Logitech (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, January 22nd. The technology company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.10. Logitech had a return on equity of 23.38% and a net margin of 8.10%. The company had revenue of $812.02 million during the quarter, compared to analysts’ expectations of $753.47 million. equities research analysts expect that Logitech will post 1.25 EPS for the current year.
In other Logitech news, insider Luca Guerrino De sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $40.75, for a total value of $611,250.00. Following the completion of the sale, the insider now owns 321,204 shares in the company, valued at $13,089,063. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP L Joseph Sullivan sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $41.55, for a total value of $1,662,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 292,673 shares of company stock valued at $12,376,204. 2.20% of the stock is owned by company insiders.
LOGI has been the subject of a number of research analyst reports. BidaskClub raised Logitech from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Zacks Investment Research raised Logitech from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine raised Logitech from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Citigroup upped their price target on Logitech from $44.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase downgraded Logitech from a “neutral” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $45.33.
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Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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