Daiwa Securities Group Inc. Boosts Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Daiwa Securities Group Inc. lifted its position in Logitech International S.A. (NASDAQ:LOGI) by 85.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,214 shares of the technology company’s stock after buying an additional 4,714 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Logitech International were worth $971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LOGI. CWM LLC raised its holdings in shares of Logitech International by 16.9% in the 3rd quarter. CWM LLC now owns 1,127 shares of the technology company’s stock valued at $78,000 after buying an additional 163 shares during the period. AE Wealth Management LLC raised its holdings in shares of Logitech International by 15.0% in the 3rd quarter. AE Wealth Management LLC now owns 14,954 shares of the technology company’s stock valued at $1,031,000 after buying an additional 1,951 shares during the period. Impact Partnership Wealth LLC purchased a new stake in shares of Logitech International in the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of Logitech International in the 3rd quarter valued at $73,000. Finally, Cigna Investments Inc. New purchased a new stake in Logitech International during the 3rd quarter worth about $219,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 650 shares of the company’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 sale, the insider now directly 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 can be accessed through the SEC website. In other Logitech International news, COO Prakash Arunkundrum sold 699 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the completion of the sale, the chief operating officer now directly owns 67,848 shares of the company’s stock, valued at approximately $6,106,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Harnett sold 650 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $2,207,555 in the last three months. 0.15% of the stock is currently owned by company insiders.

Logitech International Stock Performance

NASDAQ:LOGI opened at $79.41 on Thursday. The stock has a 50-day simple moving average of $87.60 and a 200-day simple moving average of $86.27. The stock has a market cap of $12.56 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.64 and a beta of 0.74. Logitech International S.A. has a 1 year low of $53.91 and a 1 year high of $96.66.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.43. The firm had revenue of $1.26 billion during 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%. On average, equities research analysts predict that Logitech International S.A. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LOGI. Barclays upped their price target on Logitech International from $96.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Morgan Stanley restated an “underweight” rating and set a $75.00 price target (down previously from $85.00) on shares of Logitech International in a report on Monday, April 15th. Wedbush restated a “neutral” rating and set a $92.00 price target on shares of Logitech International in a report on Tuesday. Berenberg Bank began coverage on Logitech International in a report on Thursday, March 14th. They set a “buy” rating and a $111.00 price target on the stock. Finally, Citigroup upped their price target on Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $92.43.

About Logitech International

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.