Naples Global Advisors LLC Reduces Stake in Logitech International S.A. (NASDAQ:LOGI)

Naples Global Advisors LLC lessened its stake in shares of Logitech International S.A. (NASDAQ:LOGIFree Report) by 14.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,965 shares of the technology company’s stock after selling 2,195 shares during the quarter. Naples Global Advisors LLC’s holdings in Logitech International were worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Impact Partnership Wealth LLC purchased a new position in shares of Logitech International during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. grew its stake in Logitech International by 233.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 551 shares of the technology company’s stock worth $34,000 after buying an additional 386 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Logitech International by 249.1% in the 3rd quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock worth $52,000 after buying an additional 538 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Logitech International during the 3rd quarter valued at $73,000. Finally, State of Wyoming bought a new stake in shares of Logitech International during the 4th quarter worth $75,000. 38.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LOGI shares. Morgan Stanley raised their price objective on Logitech International from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Berenberg Bank began coverage on shares of Logitech International in a report on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective for the company. Barclays increased their target price on shares of Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Wedbush reissued a “neutral” rating and issued a $92.00 price target on shares of Logitech International in a research note on Monday. Finally, StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Logitech International has an average rating of “Hold” and a consensus target price of $90.29.

Read Our Latest Research Report on LOGI

Logitech International Price Performance

NASDAQ:LOGI opened at $90.47 on Thursday. The firm’s 50-day moving average price is $88.71 and its 200-day moving average price is $83.52. The company has a market capitalization of $14.31 billion, a PE ratio of 29.56, a P/E/G ratio of 2.00 and a beta of 0.74. Logitech International S.A. has a 1-year low of $52.53 and a 1-year high of $96.66.

Logitech International (NASDAQ:LOGIGet Free Report) last issued its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.43. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. Equities analysts anticipate that Logitech International S.A. will post 3.44 EPS for the current fiscal year.

Insider Transactions at Logitech International

In other Logitech International news, insider Samantha Harnett sold 650 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Logitech International news, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Prakash Arunkundrum sold 699 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the sale, the chief operating officer now directly owns 67,848 shares in the company, valued at approximately $6,106,320. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,472 shares of company stock worth $2,198,737. Corporate insiders own 0.15% of the company’s stock.

Logitech International Company Profile

(Free Report)

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

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Institutional Ownership by Quarter for Logitech International (NASDAQ:LOGI)

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