Ossiam Sells 5,306 Shares of Logitech International S.A. $LOGI

Ossiam trimmed its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,917 shares of the technology company’s stock after selling 5,306 shares during the quarter. Ossiam’s holdings in Logitech International were worth $1,698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Logitech International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,412,308 shares of the technology company’s stock worth $543,347,000 after buying an additional 66,175 shares during the period. Charles Schwab Investment Management Inc. increased its position in Logitech International by 16.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,976 shares of the technology company’s stock valued at $2,024,000 after acquiring an additional 3,362 shares during the period. Headlands Technologies LLC bought a new position in shares of Logitech International during the first quarter valued at $130,000. Forsta AP Fonden lifted its holdings in shares of Logitech International by 72.5% during the first quarter. Forsta AP Fonden now owns 30,990 shares of the technology company’s stock worth $2,616,000 after purchasing an additional 13,029 shares during the period. Finally, Townsquare Capital LLC grew its stake in shares of Logitech International by 17.9% in the first quarter. Townsquare Capital LLC now owns 4,689 shares of the technology company’s stock worth $396,000 after purchasing an additional 712 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on LOGI. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $130.00 in a research report on Wednesday, October 15th. Wall Street Zen raised Logitech International from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Barclays raised their price objective on Logitech International from $107.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Logitech International Price Performance

Shares of Logitech International stock opened at $118.83 on Wednesday. Logitech International S.A. has a one year low of $64.73 and a one year high of $123.01. The stock’s 50-day moving average is $113.76 and its 200 day moving average is $102.44. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.81 and a beta of 1.09.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.23. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling at Logitech International

In related news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $120.61, for a total transaction of $703,518.13. Following the transaction, the director directly owned 12,781 shares of the company’s stock, valued at $1,541,516.41. This represents a 31.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Prakash Arunkundrum sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $111.03, for a total transaction of $555,150.00. Following the completion of the sale, the insider owned 62,437 shares of the company’s stock, valued at $6,932,380.11. The trade was a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.19% of the company’s stock.

Logitech International Company 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.