Norges Bank Purchases Shares of 868,596 Logitech International S.A. $LOGI

Norges Bank purchased a new stake in Logitech International S.A. (NASDAQ:LOGI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 868,596 shares of the technology company’s stock, valued at approximately $89,248,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of Logitech International by 16.6% during the third quarter. Fifth Third Bancorp now owns 751 shares of the technology company’s stock worth $82,000 after acquiring an additional 107 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Logitech International by 6.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,886 shares of the technology company’s stock worth $207,000 after acquiring an additional 107 shares during the last quarter. Pathstone Holdings LLC grew its position in shares of Logitech International by 0.7% during the third quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock worth $1,812,000 after acquiring an additional 120 shares during the last quarter. Signaturefd LLC grew its position in shares of Logitech International by 2.0% during the fourth quarter. Signaturefd LLC now owns 6,167 shares of the technology company’s stock worth $618,000 after acquiring an additional 122 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in shares of Logitech International by 1.9% during the third quarter. Metis Global Partners LLC now owns 6,531 shares of the technology company’s stock worth $712,000 after acquiring an additional 123 shares during the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Price Performance

NASDAQ:LOGI opened at $112.93 on Friday. The firm’s fifty day moving average price is $102.16 and its 200 day moving average price is $100.00. Logitech International S.A. has a 1-year low of $83.32 and a 1-year high of $129.66. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 3.02 and a beta of 1.13.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm posted $0.93 EPS. Logitech International’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts expect that Logitech International S.A. will post 5.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LOGI. Wedbush restated an “outperform” rating and set a $135.00 target price on shares of Logitech International in a research report on Wednesday, May 6th. Citigroup raised their target price on shares of Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Finally, UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $113.67.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.