Modera Wealth Management LLC Makes New $2.98 Million Investment in Logitech International S.A. $LOGI

Key Points

• Modera Wealth Management acquired 29,513 Logitech shares during the third quarter, worth approximately $2.98 million. Institutional investors collectively own 45.76% of the company.
• Analyst sentiment is mixed, with Logitech holding an average “Hold” rating and a consensus price target of $106.29; recent firms adjusted targets between $94 and $130.
• Logitech exceeded quarterly expectations, reporting $1.51 in adjusted EPS versus $1.34 expected and $1.22 billion in revenue, up 2.8% year over year. The stock opened at $95.53, below its 50-day and 200-day moving averages.

Modera Wealth Management LLC acquired a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,513 shares of the technology company's stock, valued at approximately $2,981,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOGI. Strengthening Families & Communities LLC purchased a new stake in shares of Logitech International during the third quarter valued at $44,000. MassMutual Private Wealth & Trust FSB bought a new stake in Logitech International during the 3rd quarter valued at about $64,000. Rockefeller Capital Management L.P. lifted its holdings in Logitech International by 15.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company's stock valued at $86,000 after buying an additional 114 shares in the last quarter. Fifth Third Bancorp boosted its position in Logitech International by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company's stock valued at $82,000 after buying an additional 145 shares during the period. Finally, Farther Finance Advisors LLC purchased a new stake in Logitech International in the 3rd quarter valued at about $117,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Analyst Ratings Changes

LOGI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price 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. Barclays lifted their price target on shares of Logitech International from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 28th. Wall Street Zen lowered Logitech International from a "buy" rating to a "hold" rating in a report on Sunday. Weiss Ratings cut Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, October 26th. Finally, Wedbush reduced their price objective on Logitech International from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Logitech International presently has an average rating of "Hold" and an average price target of $106.29.

Logitech International Price Performance

LOGI opened at $95.53 on Monday. The business's 50-day moving average is $101.98 and its two-hundred day moving average is $99.72. Logitech International S.A. has a 1 year low of $83.32 and a 1 year high of $129.66. The firm has a market capitalization of $14.00 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 5.08 and a beta of 1.21.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.34 by $0.17. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the firm posted $1.45 earnings per share. The company's quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Logitech International S.A. will post 5.24 EPS for the current year.

Insider Buying and Selling

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

Logitech International 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.

Want to see what other hedge funds are holding LOGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Logitech International S.A. (NASDAQ:LOGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.