QRG Capital Management Inc. Has $2.16 Million Stock Holdings in Logitech International S.A. $LOGI

QRG Capital Management Inc. reduced its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 43.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,668 shares of the technology company’s stock after selling 15,402 shares during the quarter. QRG Capital Management Inc.’s holdings in Logitech International were worth $2,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in Logitech International by 61.2% in the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock valued at $352,000 after acquiring an additional 1,585 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Logitech International in the second quarter worth approximately $210,000. Sound Income Strategies LLC bought a new position in shares of Logitech International in the second quarter valued at approximately $27,000. Hennessy Advisors Inc. bought a new position in shares of Logitech International in the second quarter valued at approximately $919,000. Finally, LGT Fund Management Co Ltd. lifted its holdings in shares of Logitech International by 66.3% in the second quarter. LGT Fund Management Co Ltd. now owns 5,227 shares of the technology company’s stock valued at $471,000 after purchasing an additional 2,083 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LOGI. Morgan Stanley lowered their price target on Logitech International from $108.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. JPMorgan Chase & Co. upped their target price on shares of Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Wedbush raised their price target on shares of Logitech International from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. BNP Paribas cut shares of Logitech International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Logitech International presently has an average rating of “Hold” and an average target price of $104.89.

Logitech International Stock Down 1.2%

NASDAQ:LOGI opened at $95.48 on Tuesday. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $123.01. The firm’s 50 day moving average is $107.94 and its 200 day moving average is $105.84.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.23. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.Logitech International’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. As a group, equities research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Neela Montgomery sold 5,833 shares of Logitech International stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the sale, the director owned 12,781 shares of the company’s stock, valued at approximately $1,541,516.41. This trade represents a 31.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Logitech International Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.