Ramsey Quantitative Systems bought a new position in shares of Logitech International SA (NASDAQ:LOGI) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,474 shares of the technology company’s stock, valued at approximately $379,000.
Other hedge funds also recently made changes to their positions in the company. Cozad Asset Management Inc. bought a new stake in Logitech International in the 2nd quarter valued at about $842,000. OLD Mission Capital LLC bought a new stake in Logitech International in the 2nd quarter valued at about $559,000. Quantitative Systematic Strategies LLC bought a new stake in Logitech International in the 2nd quarter valued at about $483,000. Cutler Group LP boosted its holdings in Logitech International by 143.7% in the 2nd quarter. Cutler Group LP now owns 5,508 shares of the technology company’s stock valued at $241,000 after purchasing an additional 3,248 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. boosted its holdings in Logitech International by 26.8% in the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 55,298 shares of the technology company’s stock valued at $2,432,000 after purchasing an additional 11,681 shares during the period. 36.45% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Bracken Darrell sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $45.66, for a total transaction of $4,566,000.00. Following the completion of the sale, the chief executive officer now owns 712,137 shares of the company’s stock, valued at approximately $32,516,175.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, July 30th. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. Logitech International had a net margin of 7.97% and a return on equity of 24.63%. The company had revenue of $608.48 million during the quarter, compared to the consensus estimate of $584.37 million. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, research analysts forecast that Logitech International SA will post 1.6 earnings per share for the current year.
A number of analysts have issued reports on LOGI shares. Zacks Investment Research downgraded shares of Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, September 24th. BidaskClub downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. DA Davidson boosted their price objective on shares of Logitech International from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. ValuEngine downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Loop Capital boosted their price objective on shares of Logitech International to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $49.20.
Logitech International Company Profile
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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