Fort L.P. raised its stake in shares of Logitech International SA (NASDAQ:LOGI) by 53.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,928 shares of the technology company’s stock after buying an additional 5,185 shares during the period. Fort L.P.’s holdings in Logitech International were worth $467,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in LOGI. Bank of New York Mellon Corp increased its stake in Logitech International by 54.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,280,706 shares of the technology company’s stock valued at $40,060,000 after buying an additional 453,782 shares during the period. Morgan Stanley increased its stake in Logitech International by 87.5% during the 3rd quarter. Morgan Stanley now owns 734,769 shares of the technology company’s stock valued at $32,860,000 after buying an additional 342,965 shares during the period. Hsbc Holdings PLC grew its stake in shares of Logitech International by 208.3% in the 4th quarter. Hsbc Holdings PLC now owns 168,690 shares of the technology company’s stock worth $5,277,000 after purchasing an additional 113,966 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Logitech International by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 4,110,779 shares of the technology company’s stock worth $183,833,000 after purchasing an additional 107,294 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Logitech International by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,110,779 shares of the technology company’s stock worth $183,833,000 after purchasing an additional 107,294 shares during the last quarter. 36.85% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on LOGI. Maxim Group reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Logitech International in a research note on Monday. Zacks Investment Research raised shares of Logitech International from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Thursday, January 24th. Wedbush began coverage on shares of Logitech International in a research note on Monday, December 17th. They issued an “outperform” rating and a $40.00 price objective on the stock. ValuEngine raised shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, December 21st. Finally, BidaskClub raised shares of Logitech International from a “strong sell” rating to a “sell” rating in a research note on Monday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $44.71.
Shares of LOGI opened at $38.28 on Friday. The company has a market capitalization of $6.29 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.21. Logitech International SA has a 12-month low of $29.06 and a 12-month high of $49.96.
Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, January 21st. The technology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.62 by $0.17. Logitech International had a net margin of 9.06% and a return on equity of 26.85%. The company had revenue of $864.39 million during the quarter, compared to analysts’ expectations of $854.11 million. During the same period last year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts expect that Logitech International SA will post 1.69 earnings per share for the current fiscal year.
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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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