Royal London Asset Management Ltd. Sells 290,195 Shares of Logitech International S.A. (NASDAQ:LOGI)

Royal London Asset Management Ltd. reduced its stake in shares of Logitech International S.A. (NASDAQ:LOGIFree Report) by 91.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,040 shares of the technology company’s stock after selling 290,195 shares during the period. Royal London Asset Management Ltd.’s holdings in Logitech International were worth $2,475,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of Logitech International by 275.9% in the fourth quarter. BNP Paribas Financial Markets now owns 15,598 shares of the technology company’s stock worth $1,483,000 after purchasing an additional 11,449 shares during the period. Dorsey Wright & Associates acquired a new stake in Logitech International during the fourth quarter worth about $2,791,000. Vontobel Holding Ltd. grew its position in Logitech International by 2.3% during the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after buying an additional 121,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after buying an additional 760,263 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in Logitech International by 100.1% during the fourth quarter. Corient Private Wealth LLC now owns 21,332 shares of the technology company’s stock worth $2,027,000 after buying an additional 10,669 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on LOGI. StockNews.com downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. Wedbush reaffirmed a “neutral” rating and set a $92.00 price objective on shares of Logitech International in a report on Tuesday, April 30th. Citigroup lifted their price objective on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. downgraded Logitech International from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $85.00 in a report on Wednesday, May 1st. Finally, Berenberg Bank initiated coverage on Logitech International in a report on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and a consensus price target of $91.00.

Get Our Latest Report on LOGI

Insider Buying and Selling

In other Logitech International news, CFO Charles D. Boynton bought 1,225 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the transaction, the chief financial officer now owns 1,225 shares of the company’s stock, valued at approximately $99,555.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Logitech International Price Performance

Shares of LOGI opened at $101.14 on Monday. The company has a market capitalization of $15.99 billion, a P/E ratio of 26.13, a PEG ratio of 3.12 and a beta of 0.82. Logitech International S.A. has a one year low of $53.91 and a one year high of $102.59. The business’s 50 day simple moving average is $87.73 and its 200-day simple moving average is $89.01.

Logitech International (NASDAQ:LOGIGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. On average, sell-side analysts anticipate that Logitech International S.A. will post 3.85 EPS for the current fiscal year.

Logitech International Company Profile

(Free Report)

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.

See Also

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

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