Barclays PLC Decreases Stake in Logitech International S.A. $LOGI

Barclays PLC cut its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,823,707 shares of the technology company’s stock after selling 728,063 shares during the period. Barclays PLC owned approximately 1.79% of Logitech International worth $309,704,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LOGI. Norges Bank purchased a new stake in shares of Logitech International during the 2nd quarter valued at about $42,240,000. Mackenzie Financial Corp raised its holdings in shares of Logitech International by 2,227.1% during the second quarter. Mackenzie Financial Corp now owns 453,385 shares of the technology company’s stock valued at $40,840,000 after purchasing an additional 433,902 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Logitech International by 36.6% during the third quarter. Allianz Asset Management GmbH now owns 988,532 shares of the technology company’s stock valued at $107,822,000 after purchasing an additional 264,989 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in Logitech International by 397.3% during the third quarter. Compagnie Lombard Odier SCmA now owns 239,296 shares of the technology company’s stock valued at $26,100,000 after purchasing an additional 191,180 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in Logitech International by 31.6% in the second quarter. Jupiter Asset Management Ltd. now owns 713,509 shares of the technology company’s stock worth $64,037,000 after purchasing an additional 171,307 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Up 2.4%

NASDAQ LOGI opened at $92.18 on Friday. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $123.01. The business has a 50-day moving average price of $93.03 and a 200-day moving average price of $104.61.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $1.59 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts forecast that Logitech International S.A. will post 4.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LOGI shares. Zacks Research downgraded shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. BNP Paribas Exane lowered Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price objective for the company. in a report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a research report on Thursday, January 22nd. Finally, Citigroup lowered their target price on Logitech International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $102.13.

About Logitech International

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.