D.A. Davidson & CO. Buys Shares of 10,887 Logitech International S.A. $LOGI

Key Points

• D.A. Davidson & Co. bought a new stake of 10,887 shares in Logitech International (LOGI) during Q4, valued at about $1.09 million.
• Several institutional investors increased positions—Vanguard now owns 6,682,756 shares (~$678.4M) and Arrowstreet made a large add—bringing total institutional ownership to 45.76%.
• Analysts are mixed: consensus rating is Hold with an average price target of $106.29 after multiple recent downgrades and a few reiterations of outperform/neutral views.

D.A. Davidson & CO. bought a new stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,887 shares of the technology company's stock, valued at approximately $1,091,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Logitech International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company's stock valued at $678,420,000 after buying an additional 75,256 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Logitech International by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company's stock valued at $288,430,000 after buying an additional 74,702 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Logitech International by 7.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company's stock valued at $297,504,000 after buying an additional 191,828 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Logitech International by 305.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company's stock valued at $227,859,000 after buying an additional 1,570,876 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Logitech International by 8.0% during the 3rd quarter. Legal & General Group Plc now owns 1,327,129 shares of the technology company's stock valued at $144,749,000 after buying an additional 98,589 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group downgraded Logitech International from a "buy" rating to a "neutral" rating in a research report on Tuesday, March 17th. BNP Paribas Exane downgraded Logitech International from an "outperform" rating to a "neutral" rating and set a $106.00 price target for the company. in a research report on Thursday, January 8th. Weiss Ratings downgraded Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Wedbush reiterated an "outperform" rating and set a $135.00 price target on shares of Logitech International in a research report on Tuesday, January 20th. Finally, Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $106.29.

Logitech International Stock Performance

Shares of LOGI opened at $99.49 on Monday. The company has a market cap of $14.58 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 3.53 and a beta of 1.07. The stock has a 50-day moving average price of $93.26 and a 200-day moving average price of $100.85. Logitech International S.A. has a 12-month low of $76.52 and a 12-month high of $123.01.

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.

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