1832 Asset Management L.P. Acquires Shares of 41,753 Logitech International S.A. (NASDAQ:LOGI)

1832 Asset Management L.P. acquired a new stake in Logitech International S.A. (NASDAQ:LOGI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 41,753 shares of the technology company’s stock, valued at approximately $3,731,000.

Several other hedge funds also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. bought a new position in shares of Logitech International during the 4th quarter worth $33,000. Global Retirement Partners LLC grew its position in shares of Logitech International by 764.4% during the 1st quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock worth $35,000 after buying an additional 344 shares in the last quarter. Blue Trust Inc. grew its position in shares of Logitech International by 65.6% during the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after buying an additional 168 shares in the last quarter. National Bank of Canada FI grew its position in shares of Logitech International by 529.4% during the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after buying an additional 360 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Logitech International during the 1st quarter worth $42,000. Institutional investors own 45.76% of the company’s stock.

Insider Buying and Selling at Logitech International

In other news, CFO Charles D. Boynton acquired 1,225 shares of Logitech International stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now directly owns 1,225 shares in the company, valued at approximately $99,555.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LOGI has been the topic of a number of recent research reports. StockNews.com downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research report on Tuesday, April 16th. Wedbush reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. downgraded Logitech International from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $85.00 in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $90.57.

Logitech International Price Performance

Logitech International stock traded up $0.52 during midday trading on Friday, reaching $88.92. The company’s stock had a trading volume of 317,593 shares, compared to its average volume of 550,158. The stock’s 50-day simple moving average is $95.42 and its 200-day simple moving average is $89.99. Logitech International S.A. has a 52-week low of $65.31 and a 52-week high of $102.59. The stock has a market capitalization of $14.06 billion, a P/E ratio of 22.98, a PEG ratio of 2.63 and a beta of 0.80.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a return on equity of 30.80% and a net margin of 15.67%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. As a group, equities research analysts expect that Logitech International S.A. will post 3.86 earnings per share for the current fiscal year.

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.