Bank of Montreal Can purchased a new position in Logitech International SA (NASDAQ:LOGI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,216 shares of the technology company’s stock, valued at approximately $712,000.
Several other hedge funds have also bought and sold shares of the company. Mckinley Capital Management LLC Delaware raised its stake in shares of Logitech International by 7.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 30,741 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 2,017 shares during the last quarter. Koch Industries Inc. raised its position in Logitech International by 20.0% in the 1st quarter. Koch Industries Inc. now owns 14,707 shares of the technology company’s stock worth $540,000 after buying an additional 2,453 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Logitech International by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 327,065 shares of the technology company’s stock worth $12,013,000 after buying an additional 2,832 shares during the last quarter. First Mercantile Trust Co. purchased a new position in Logitech International in the 1st quarter worth about $134,000. Finally, Financial Gravity Wealth Inc. purchased a new position in Logitech International in the 1st quarter worth about $144,000. Hedge funds and other institutional investors own 33.19% of the company’s stock.
In other news, CEO Bracken Darrell sold 100,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $45.66, for a total transaction of $4,566,000.00. Following the completion of the sale, the chief executive officer now owns 712,137 shares of the company’s stock, valued at approximately $32,516,175.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.
LOGI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Logitech International from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research report on Wednesday, May 16th. BidaskClub raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Goldman Sachs Group started coverage on shares of Logitech International in a report on Friday, June 22nd. They set a “neutral” rating for the company. DA Davidson boosted their price objective on shares of Logitech International to $55.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Loop Capital boosted their price objective on shares of Logitech International to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.00.
Logitech International stock opened at $48.23 on Wednesday. The firm has a market cap of $7.70 billion, a P/E ratio of 35.99, a PEG ratio of 3.66 and a beta of 0.95. Logitech International SA has a one year low of $32.66 and a one year high of $48.43.
Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, July 30th. The technology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The company had revenue of $608.48 million during the quarter, compared to analysts’ expectations of $584.37 million. Logitech International had a return on equity of 24.63% and a net margin of 7.97%. During the same quarter in the prior year, the business earned $0.24 earnings per share. equities analysts forecast that Logitech International SA will post 1.6 EPS for the current year.
Logitech International Company Profile
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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