Willis Investment Counsel Boosts Position in Logitech International S.A. $LOGI

Key Points

• Willis Investment Counsel increased its stake in Logitech by 40% in Q4, adding 12,221 shares to hold 42,747 shares valued at about $4.28 million.
• Logitech beat expectations for the quarter with EPS of $1.93 versus $1.78 consensus and revenue of $1.42B (+6.1% YoY), reporting a 33.57% ROE and a 14.94% net margin.
• Analyst sentiment is mixed: the consensus rating is Hold with an average price target of $106.29 after several downgrades and price-target cuts from major firms.

Willis Investment Counsel grew its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 40.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,747 shares of the technology company's stock after buying an additional 12,221 shares during the period. Willis Investment Counsel's holdings in Logitech International were worth $4,284,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Logitech International during the 3rd quarter worth approximately $30,000. Mather Group LLC. purchased a new position in shares of Logitech International during the 3rd quarter worth approximately $34,000. Westside Investment Management Inc. grew its holdings in shares of Logitech International by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 326 shares of the technology company's stock worth $36,000 after acquiring an additional 163 shares during the period. Richardson Financial Services Inc. grew its stake in Logitech International by 63.7% in the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company's stock worth $36,000 after purchasing an additional 128 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Logitech International by 40.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company's stock worth $52,000 after purchasing an additional 165 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays reiterated an "equal weight" rating and issued a $98.00 price objective (down from $134.00) on shares of Logitech International in a report on Friday, January 16th. Citigroup decreased their price objective on Logitech International from $130.00 to $115.00 and set a "buy" rating for the company in a report on Tuesday, January 20th. BNP Paribas Exane downgraded Logitech International from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a report on Thursday, January 8th. Morgan Stanley reiterated an "underweight" rating and issued a $89.00 price objective (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Finally, Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Saturday, December 27th. Two 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $106.29.

Logitech International Trading Up 2.1%

NASDAQ LOGI opened at $94.79 on Thursday. Logitech International S.A. has a 12 month low of $65.76 and a 12 month high of $123.01. The stock has a market cap of $13.90 billion, a P/E ratio of 19.83, a P/E/G ratio of 3.27 and a beta of 1.08. The stock's fifty day moving average price is $90.99 and its 200-day moving average price is $102.36.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its earnings results on Tuesday, January 27th. The technology company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.15. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the prior year, the firm posted $1.59 earnings per share. The company's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal 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.

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