Naples Global Advisors LLC Sells 982 Shares of Logitech International S.A. (NASDAQ:LOGI)

Naples Global Advisors LLC decreased its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 7.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,426 shares of the technology company’s stock after selling 982 shares during the period. Naples Global Advisors LLC’s holdings in Logitech International were worth $941,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lester Murray Antman dba SimplyRich lifted its holdings in shares of Logitech International by 23.2% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 9,539 shares of the technology company’s stock worth $785,000 after buying an additional 1,797 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Logitech International by 41.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 8,105 shares of the technology company’s stock valued at $667,000 after acquiring an additional 2,375 shares in the last quarter. Entropy Technologies LP bought a new stake in Logitech International during the 4th quarter worth approximately $314,000. Exane Asset Management purchased a new stake in Logitech International in the 4th quarter worth approximately $32,000. Finally, Financial Advocates Investment Management bought a new position in Logitech International in the 4th quarter valued at $448,000. Institutional investors own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LOGI. StockNews.com raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Barclays raised their price target on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price target on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wedbush restated a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research report on Wednesday, January 22nd. Finally, Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $73.00 to $92.00 in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and an average target price of $97.13.

Logitech International Stock Performance

Shares of LOGI opened at $103.30 on Friday. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $103.54. The firm has a market cap of $16.34 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.54 and a beta of 0.78. The firm has a 50 day moving average price of $88.81 and a 200-day moving average price of $86.45.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. As a group, equities research analysts predict that Logitech International S.A. will post 4.18 earnings per share for the current year.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the completion of the sale, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. This represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Logitech International Profile

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.