Crossmark Global Holdings Inc. Makes New Investment in Logitech International S.A. $LOGI

Crossmark Global Holdings Inc. purchased a new position in Logitech International S.A. (NASDAQ:LOGI) in the third quarter, HoldingsChannel reports. The fund purchased 142,307 shares of the technology company’s stock, valued at approximately $14,372,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC acquired a new position in Logitech International during the 3rd quarter worth $44,000. Quadrant Capital Group LLC acquired a new stake in shares of Logitech International in the 3rd quarter valued at about $998,000. Willis Investment Counsel acquired a new stake in shares of Logitech International in the 3rd quarter valued at about $7,837,000. Columbia Asset Management acquired a new stake in shares of Logitech International in the 3rd quarter valued at about $379,000. Finally, IFP Advisors Inc lifted its position in shares of Logitech International by 19.9% during the third quarter. IFP Advisors Inc now owns 4,077 shares of the technology company’s stock worth $412,000 after purchasing an additional 677 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LOGI shares. JPMorgan Chase & Co. decreased their price target on Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Wedbush lowered their price objective on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Morgan Stanley reduced their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Logitech International has an average rating of “Hold” and a consensus price target of $104.14.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the transaction, the insider directly owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.15% of the company’s stock.

Logitech International Price Performance

Logitech International stock opened at $110.34 on Thursday. The company has a market cap of $16.17 billion, a PE ratio of 20.25, a P/E/G ratio of 3.97 and a beta of 1.14. The company has a fifty day moving average price of $101.35 and a two-hundred day moving average price of $102.82. Logitech International S.A. has a 12 month low of $83.32 and a 12 month 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, beating the consensus estimate of $1.26 by $0.59. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Equities research analysts anticipate that Logitech International S.A. will post 5.26 earnings per share for the current year.

About Logitech International

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.