Logitech International S.A. $LOGI Shares Newly Acquired by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors acquired 11,341 Logitech shares during the third quarter, valued at approximately $1.145 million. Institutional investors collectively own 45.76% of the company.
• Logitech reported quarterly earnings of $1.85 per share, beating estimates of $1.26, while revenue rose 7% year over year to $1.23 billion.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $104.14; LOGI recently opened at $104.41.

Frank Rimerman Advisors LLC bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,341 shares of the technology company's stock, valued at approximately $1,145,000.

Several other institutional investors have also recently added to or reduced their stakes in LOGI. Bank of America Corp DE increased its stake in Logitech International by 16.5% in the first quarter. Bank of America Corp DE now owns 915,733 shares of the technology company's stock valued at $83,442,000 after purchasing an additional 129,967 shares during the last quarter. Entropy Technologies LP raised its holdings in Logitech International by 647.0% during the first quarter. Entropy Technologies LP now owns 18,921 shares of the technology company's stock worth $1,724,000 after purchasing an additional 16,388 shares in the last quarter. Amundi raised its holdings in Logitech International by 51.2% during the first quarter. Amundi now owns 1,665,096 shares of the technology company's stock worth $151,724,000 after purchasing an additional 563,564 shares in the last quarter. Groupe la Francaise purchased a new stake in shares of Logitech International during the 1st quarter worth approximately $4,668,000. Finally, Renaissance Technologies LLC lifted its position in shares of Logitech International by 26.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company's stock worth $188,847,000 after buying an additional 435,000 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Price Performance

Shares of LOGI stock opened at $104.41 on Monday. The stock's 50-day moving average price is $101.05 and its 200 day moving average price is $102.45. The stock has a market capitalization of $15.31 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. Logitech International S.A. has a 52-week low of $83.32 and a 52-week high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the firm earned $1.26 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that Logitech International S.A. will post 5.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on LOGI. Barclays lowered their target price on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. cut their price target on shares of Logitech International from $102.00 to $94.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. Morgan Stanley cut their price target on shares of Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 8th. Wedbush reduced their price target on shares of 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 downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, September 28th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $104.14.

Insider Activity at Logitech International

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