Willis Investment Counsel Buys 77,597 Shares of Logitech International S.A. $LOGI

Willis Investment Counsel acquired a new position in Logitech International S.A. (NASDAQ:LOGI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 77,597 shares of the technology company’s stock, valued at approximately $7,837,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of Logitech International by 16.5% in the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after purchasing an additional 129,967 shares during the last quarter. Entropy Technologies LP grew its stake in shares of Logitech International by 647.0% in the 1st quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock worth $1,724,000 after buying an additional 16,388 shares during the last quarter. Amundi increased its holdings in shares of Logitech International by 51.2% during the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock valued at $151,724,000 after acquiring an additional 563,564 shares in the last quarter. Groupe la Francaise bought a new stake in Logitech International during the 1st quarter valued at about $4,668,000. Finally, Renaissance Technologies LLC boosted its position in shares of Logitech International by 26.6% during the first quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock valued at $188,847,000 after buying an additional 435,000 shares during the last quarter. 45.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the sale, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOGI. Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a research report on Tuesday, June 30th. Wedbush reduced their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Finally, Barclays lowered their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.14.

Logitech International Stock Performance

NASDAQ LOGI traded up $1.66 during trading on Tuesday, hitting $109.01. The stock had a trading volume of 747,187 shares, compared to its average volume of 1,068,948. The stock has a 50 day simple moving average of $101.10 and a 200 day simple moving average of $102.56. The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 3.79 and a beta of 1.14. Logitech International S.A. has a one year low of $83.32 and a one year high of $129.66.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.59. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. On average, sell-side analysts predict that Logitech International S.A. will post 5.26 EPS for the current year.

Logitech International Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.