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

Park Avenue Securities LLC acquired a new position in shares of Logitech International S.A. (NASDAQ:LOGI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,129 shares of the technology company’s stock, valued at approximately $2,208,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of Logitech International by 61.2% in the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock worth $352,000 after acquiring an additional 1,585 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Logitech International in the first quarter worth approximately $534,000. Baader Bank Aktiengesellschaft bought a new position in shares of Logitech International in the second quarter valued at approximately $431,000. Fulton Bank N.A. boosted its position in shares of Logitech International by 1.5% during the second quarter. Fulton Bank N.A. now owns 7,000 shares of the technology company’s stock valued at $631,000 after buying an additional 106 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Logitech International by 91.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,701,985 shares of the technology company’s stock worth $152,757,000 after buying an additional 815,280 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Logitech International news, Director Neela Montgomery sold 5,833 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the transaction, the director owned 12,781 shares of the company’s stock, valued at $1,541,516.41. The trade was a 31.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Logitech International Trading Down 1.3%

Shares of NASDAQ LOGI opened at $95.10 on Friday. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $123.01. The stock has a fifty day moving average of $110.79 and a 200-day moving average of $105.49.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.23. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. Logitech International’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. As a group, sell-side analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LOGI has been the topic of several analyst reports. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. JPMorgan Chase & Co. increased their price target on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Zacks Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. BNP Paribas Exane downgraded Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price objective for the company. in a research note on Thursday. Finally, Morgan Stanley decreased their target price 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. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $108.89.

Logitech International Company 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.