Park Avenue Securities LLC Increases Stake in Logitech International S.A. $LOGI

Park Avenue Securities LLC lifted its position in Logitech International S.A. (NASDAQ:LOGI) by 43.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,846 shares of the technology company’s stock after acquiring an additional 8,717 shares during the quarter. Park Avenue Securities LLC’s holdings in Logitech International were worth $2,891,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Logitech International during the 3rd quarter valued at about $30,000. Mather Group LLC. purchased a new stake in shares of Logitech International in the 3rd quarter worth approximately $34,000. Westerkirk Capital Inc. purchased a new stake in shares of Logitech International in the 2nd quarter worth approximately $36,000. Richardson Financial Services Inc. boosted its stake in shares of Logitech International by 63.7% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock valued at $36,000 after purchasing an additional 128 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of Logitech International by 100.0% during the third quarter. Westside Investment Management Inc. now owns 326 shares of the technology company’s stock valued at $36,000 after purchasing an additional 163 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Down 4.1%

NASDAQ LOGI opened at $87.99 on Monday. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $123.01. The company has a 50 day moving average price of $91.50 and a 200 day moving average price of $103.90. The firm has a market cap of $12.90 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 3.22 and a beta of 1.09.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. Logitech International’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.59 earnings per share. On average, equities research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on LOGI. Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a research note on Thursday, January 22nd. BNP Paribas Exane cut Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price on the stock. in a research report on Thursday, January 8th. Zacks Research downgraded Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Morgan Stanley reissued an “underweight” rating and issued a $89.00 price target (down from $107.00) on shares of Logitech International in a research report on Tuesday, January 20th. Finally, Barclays restated an “equal weight” rating and set a $98.00 price objective (down from $134.00) on shares of Logitech International in a research note on Friday, January 16th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Logitech International has a consensus rating of “Hold” and a consensus target price of $102.13.

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.