Logitech International S.A. $LOGI Shares Sold by Ethic Inc.

Ethic Inc. lowered its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 31.0% in the third quarter, HoldingsChannel reports. The firm owned 11,106 shares of the technology company’s stock after selling 4,995 shares during the period. Ethic Inc.’s holdings in Logitech International were worth $1,122,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in Logitech International by 26.6% during the first quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock worth $188,847,000 after buying an additional 435,000 shares during the last quarter. Amundi raised its stake in Logitech International by 51.2% in the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after acquiring an additional 563,564 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Logitech International by 2,227.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock valued at $98,189,000 after purchasing an additional 1,000,805 shares during the last quarter. Bank of America Corp DE lifted its holdings in Logitech International by 16.5% during the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock valued at $83,442,000 after purchasing an additional 129,967 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Logitech International by 75.5% during the first quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock worth $36,115,000 after purchasing an additional 170,485 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of the transaction, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

LOGI has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. JPMorgan Chase & Co. lowered their price target on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Wedbush cut their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, November 1st. Finally, Barclays boosted their price objective on Logitech International from $101.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $106.29.

Logitech International Trading Up 1.7%

Shares of LOGI opened at $102.33 on Friday. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66. The firm’s 50 day moving average is $101.88 and its 200-day moving average is $99.92. The stock has a market capitalization of $15.00 billion, a PE ratio of 18.44, a P/E/G ratio of 5.32 and a beta of 1.21.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, October 27th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.34 by $0.17. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company earned $1.45 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts predict that Logitech International S.A. will post 5.27 earnings per share for the current fiscal year.

Logitech International Company Profile

Logitech International S.A. designs and sells hardware and software for personal computing, communication, collaboration, gaming and digital content creation. Its products include mice, keyboards, webcams, headsets, speakers, gaming devices and video-conferencing systems. The company serves consumers, businesses, schools and other organizations around the world through retail, e-commerce and business-to-business channels. Its product portfolio includes Logitech-branded devices and gaming products sold under the Logitech G brand.