Acadian Asset Management LLC Boosts Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Acadian Asset Management LLC grew its holdings in Logitech International S.A. (NASDAQ:LOGI) by 32.7% in the 1st quarter, Holdings Channel reports. The fund owned 6,207,484 shares of the technology company’s stock after purchasing an additional 1,527,984 shares during the quarter. Logitech International accounts for 1.9% of Acadian Asset Management LLC’s portfolio, making the stock its 7th biggest position. Acadian Asset Management LLC’s holdings in Logitech International were worth $556,523,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Logitech International in the 4th quarter valued at approximately $33,000. Global Retirement Partners LLC lifted its stake in Logitech International by 764.4% in the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after buying an additional 344 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Logitech International by 65.6% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after buying an additional 168 shares during the period. National Bank of Canada FI increased its position in shares of Logitech International by 529.4% during the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after acquiring an additional 360 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Logitech International during the first quarter worth $42,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Stock Performance

NASDAQ LOGI traded down $0.79 during trading hours on Friday, hitting $88.92. 679,674 shares of the company traded hands, compared to its average volume of 421,467. The business’s 50-day moving average is $95.34 and its 200-day moving average is $90.10. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 2.74 and a beta of 0.80. Logitech International S.A. has a twelve month low of $62.73 and a twelve month high of $102.59.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $956.85 million. Analysts predict that Logitech International S.A. will post 3.86 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on LOGI. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. JPMorgan Chase & Co. cut Logitech International from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. StockNews.com upgraded Logitech International from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 14th. Wedbush restated a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research note on Tuesday, July 16th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 price target (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.43.

Insider Buying and Selling at Logitech International

In other news, CFO Charles D. Boynton acquired 1,225 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the purchase, the chief financial officer now directly owns 1,225 shares of the company’s stock, valued at $99,555.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Logitech International Profile

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.