Barclays PLC Sells 728,063 Shares of Logitech International S.A. $LOGI

Barclays PLC reduced its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 20.5% in the third quarter, Holdings Channel reports. The fund owned 2,823,707 shares of the technology company’s stock after selling 728,063 shares during the quarter. Barclays PLC’s holdings in Logitech International were worth $309,704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOGI. Vanguard Group Inc. increased its position in Logitech International by 0.6% in the third quarter. Vanguard Group Inc. now owns 6,607,500 shares of the technology company’s stock worth $726,812,000 after purchasing an additional 37,126 shares during the last quarter. Allianz Asset Management GmbH lifted its position in 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. Amundi grew its stake in shares of Logitech International by 13.4% in the 2nd quarter. Amundi now owns 962,779 shares of the technology company’s stock worth $89,471,000 after buying an additional 113,959 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Logitech International by 31.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 713,509 shares of the technology company’s stock worth $64,037,000 after buying an additional 171,307 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Logitech International in the 2nd quarter worth about $42,240,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Zacks Research downgraded shares of Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of Logitech International in a research note on Tuesday, January 20th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Morgan Stanley reiterated an “underweight” rating and issued a $89.00 target price (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Finally, Barclays restated an “equal weight” rating and set a $98.00 price target (down from $134.00) on shares of Logitech International in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.13.

Logitech International Stock Up 2.4%

Shares of NASDAQ:LOGI opened at $92.18 on Friday. The firm’s 50 day simple moving average is $93.03 and its 200-day simple moving average is $104.61. Logitech International S.A. has a one year low of $64.73 and a one year high of $123.01.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.Logitech International’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 earnings per share. As a group, equities analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current year.

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.