77,597 Shares of Logitech International S.A. $LOGI Bought by Willis Investment Counsel

Key Points

• Willis Investment Counsel acquired 77,597 Logitech shares worth approximately $7.84 million, establishing a position representing about 0.05% of the company. Institutional investors collectively own 45.76% of Logitech.
• Analyst sentiment remains mixed: Logitech has an average “Hold” rating and a consensus price target of $104.14, below the reported share price of $109.01.
• Logitech exceeded quarterly expectations, reporting $1.85 in earnings per share versus the $1.26 consensus estimate and $1.23 billion in revenue, up 7% year over year.

Willis Investment Counsel bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 77,597 shares of the technology company's stock, valued at approximately $7,837,000. Willis Investment Counsel owned approximately 0.05% of Logitech International as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LOGI. Columbia Asset Management acquired a new stake in shares of Logitech International during the third quarter worth approximately $379,000. IFP Advisors Inc boosted its position in Logitech International by 19.9% during the 3rd quarter. IFP Advisors Inc now owns 4,077 shares of the technology company's stock worth $412,000 after acquiring an additional 677 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Logitech International in the third quarter worth $1,145,000. First Citizens Bank & Trust Co. bought a new position in shares of Logitech International in the third quarter worth $639,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in shares of Logitech International during the third quarter valued at approximately $439,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. cut their price target on Logitech International from $102.00 to $94.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. Barclays decreased their price objective on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Wedbush lowered their price objective on Logitech International from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, September 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Logitech International presently has an average rating of "Hold" and a consensus target price of $104.14.

Logitech International Stock Up 1.5%

Shares of NASDAQ:LOGI traded up $1.66 during midday trading on Tuesday, hitting $109.01. The stock had a trading volume of 747,187 shares, compared to its average volume of 1,068,948. The business's 50-day simple moving average is $101.10 and its 200-day simple moving average is $102.56. The company has a market cap of $15.98 billion, a P/E ratio of 20.01, a PEG ratio of 3.79 and a beta of 1.14. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.59. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. Logitech International's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 EPS. As a group, equities analysts predict that Logitech International S.A. will post 5.26 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 16,265 shares of the company's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of the transaction, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by insiders.

Logitech International Company Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company's portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.

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