Park Avenue Securities LLC Makes New Investment in Logitech International S.A. $LOGI

Park Avenue Securities LLC purchased a new stake in shares of Logitech International S.A. (NASDAQ:LOGI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,796 shares of the technology company’s stock, valued at approximately $686,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LOGI. Signaturefd LLC raised its position in shares of Logitech International by 17.6% during the 3rd quarter. Signaturefd LLC now owns 8,391 shares of the technology company’s stock worth $847,000 after buying an additional 1,257 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Logitech International in the 3rd quarter worth approximately $211,000. Evergreen Capital Management LLC bought a new position in shares of Logitech International in the third quarter valued at approximately $371,000. Vest Financial LLC boosted its holdings in shares of Logitech International by 53.7% in the third quarter. Vest Financial LLC now owns 21,856 shares of the technology company’s stock valued at $2,207,000 after acquiring an additional 7,635 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Logitech International in the third quarter valued at approximately $14,372,000. 45.76% of the stock is currently owned by institutional investors.

Logitech International Trading Up 7.8%

Shares of Logitech International stock opened at $100.12 on Thursday. Logitech International S.A. has a 52 week low of $83.32 and a 52 week high of $129.66. The stock has a market cap of $14.68 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 4.91 and a beta of 1.21. The company’s 50-day moving average price is $101.90 and its two-hundred day moving average price is $99.71.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, October 27th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 EPS. On average, equities analysts predict that Logitech International S.A. will post 5.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on LOGI shares. JPMorgan Chase & Co. lowered their price objective 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. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays increased their price target on Logitech International from $101.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 28th. Weiss Ratings cut Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Wedbush lowered their price target on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus target price of $106.29.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 16,265 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 37,097 shares of the company’s stock, 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 at 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 corporate 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.