Norges Bank Acquires New Stake in Logitech International S.A. $LOGI

Norges Bank bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI) during the 4th quarter, Holdings Channel reports. The fund bought 868,596 shares of the technology company’s stock, valued at approximately $89,248,000.

Several other institutional investors also recently made changes to their positions in LOGI. AQR Capital Management LLC boosted its position in shares of Logitech International by 61.2% during the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock worth $352,000 after purchasing an additional 1,585 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Logitech International by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 4,732 shares of the technology company’s stock worth $426,000 after purchasing an additional 152 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after purchasing an additional 165 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Logitech International by 13.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock worth $160,000 after purchasing an additional 206 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Logitech International by 1.3% during the 2nd quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after purchasing an additional 126 shares in the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LOGI shares. Citigroup boosted 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. UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th. Barclays boosted their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. 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, Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.67.

Logitech International Stock Down 4.9%

NASDAQ:LOGI opened at $112.93 on Friday. The company has a market capitalization of $16.55 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 3.02 and a beta of 1.13. Logitech International S.A. has a 52-week low of $83.32 and a 52-week high of $129.66. The stock has a fifty day simple moving average of $102.16 and a 200-day simple moving average of $100.00.

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

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.