1832 Asset Management L.P. Makes New $3.73 Million Investment in Logitech International S.A. (NASDAQ:LOGI)

1832 Asset Management L.P. acquired a new position in shares of Logitech International S.A. (NASDAQ:LOGI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 41,753 shares of the technology company’s stock, valued at approximately $3,731,000.

Other hedge funds have also recently bought and sold shares of the company. Claro Advisors LLC boosted its holdings in shares of Logitech International by 6.2% in the 1st quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock worth $200,000 after buying an additional 131 shares during the last quarter. Blue Trust Inc. lifted its holdings in Logitech International by 65.6% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in Logitech International by 2.2% during the first quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company’s stock valued at $1,185,000 after purchasing an additional 291 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Logitech International by 4.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,594 shares of the technology company’s stock valued at $627,000 after purchasing an additional 297 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Logitech International by 1.6% during the first quarter. SG Americas Securities LLC now owns 19,056 shares of the technology company’s stock valued at $1,703,000 after purchasing an additional 297 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Charles D. Boynton acquired 1,225 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the acquisition, the chief financial officer now owns 1,225 shares in the company, valued at $99,555.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Logitech International Trading Up 0.6 %

Shares of NASDAQ:LOGI traded up $0.52 during trading on Friday, reaching $88.92. 317,593 shares of the company traded hands, compared to its average volume of 550,158. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 2.63 and a beta of 0.80. Logitech International S.A. has a 52-week low of $65.31 and a 52-week high of $102.59. The business’s fifty day moving average is $95.42 and its 200-day moving average is $89.99.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a return on equity of 30.80% and a net margin of 15.67%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. On average, sell-side analysts predict that Logitech International S.A. will post 3.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an “underweight” rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Barclays upped their price target on Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday. Wedbush reiterated a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research report on Tuesday, July 16th. JPMorgan Chase & Co. cut Logitech International from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $85.00 in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Logitech International in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.57.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.