QRG Capital Management Inc. Has $2.64 Million Stake in Logitech International S.A. (NASDAQ:LOGI)

QRG Capital Management Inc. boosted its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,487 shares of the technology company’s stock after acquiring an additional 2,047 shares during the quarter. QRG Capital Management Inc.’s holdings in Logitech International were worth $2,635,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. acquired a new stake in Logitech International in the 4th quarter valued at about $33,000. Global Retirement Partners LLC lifted its stake in shares of Logitech International by 764.4% during the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after acquiring an additional 344 shares during the period. Blue Trust Inc. boosted its holdings in Logitech International by 65.6% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 168 shares during the last quarter. National Bank of Canada FI increased its position in Logitech International by 529.4% in the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after purchasing an additional 360 shares during the period. Finally, Mather Group LLC. bought a new stake in Logitech International during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Insider Activity at Logitech International

In related news, CFO Charles D. Boynton purchased 1,225 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $81.27 per share, with a total value of $99,555.75. Following the transaction, the chief financial officer now directly owns 1,225 shares of the company’s stock, valued at $99,555.75. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

LOGI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Citigroup increased their target price on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. cut shares of Logitech International from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $85.00 in a research report on Wednesday, May 1st. StockNews.com upgraded Logitech International from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Morgan Stanley restated an “underweight” rating and issued a $75.00 price target (down from $85.00) on shares of Logitech International in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.43.

Logitech International Stock Up 0.1 %

Shares of NASDAQ:LOGI traded up $0.08 during mid-day trading on Tuesday, reaching $92.49. 595,693 shares of the stock were exchanged, compared to its average volume of 455,820. Logitech International S.A. has a one year low of $62.73 and a one year high of $102.59. The stock’s 50 day simple moving average is $94.88 and its 200-day simple moving average is $90.22. The company has a market cap of $14.63 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.85 and a beta of 0.80.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. Analysts anticipate that Logitech International S.A. will post 3.86 EPS for the current fiscal year.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.