Renaissance Technologies LLC cut its holdings in Logitech International SA (NASDAQ:LOGI) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,553,900 shares of the technology company’s stock after selling 4,842 shares during the period. Renaissance Technologies LLC owned about 1.56% of Logitech International worth $112,116,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new position in Logitech International in the 1st quarter valued at about $134,000. Financial Gravity Wealth Inc. purchased a new position in Logitech International in the 1st quarter valued at about $144,000. Bailard Inc. purchased a new position in Logitech International in the 2nd quarter valued at about $206,000. Millennium Management LLC acquired a new position in shares of Logitech International during the 1st quarter valued at about $207,000. Finally, Cutler Group LP increased its stake in shares of Logitech International by 143.7% during the 2nd quarter. Cutler Group LP now owns 5,508 shares of the technology company’s stock valued at $241,000 after acquiring an additional 3,248 shares during the last quarter. Institutional investors and hedge funds own 36.45% of the company’s stock.
LOGI has been the subject of a number of research analyst reports. BidaskClub raised shares of Logitech International from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 8th. DA Davidson upped their price objective on shares of Logitech International to $55.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Zacks Investment Research downgraded shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Citigroup upped their price objective on shares of Logitech International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Loop Capital upped their price objective on shares of Logitech International to $53.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.60.
NASDAQ LOGI opened at $47.16 on Friday. Logitech International SA has a 12 month low of $32.66 and a 12 month high of $49.96. The stock has a market cap of $7.83 billion, a PE ratio of 35.19, a P/E/G ratio of 3.73 and a beta of 1.02.
Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, July 30th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The firm had revenue of $608.48 million during the quarter, compared to the consensus estimate of $584.37 million. Logitech International had a net margin of 7.97% and a return on equity of 24.63%. During the same quarter in the prior year, the company earned $0.24 EPS. sell-side analysts forecast that Logitech International SA will post 1.6 earnings per share for the current year.
In other Logitech International news, CEO Bracken Darrell sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $45.66, for a total value of $4,566,000.00. Following the completion of the transaction, the chief executive officer now owns 712,137 shares in the company, valued at approximately $32,516,175.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.
About Logitech International
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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