Cigna Investments Inc. New Sells 163 Shares of Logitech International S.A. (NASDAQ:LOGI)

Cigna Investments Inc. New lessened its position in Logitech International S.A. (NASDAQ:LOGI) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,926 shares of the technology company’s stock after selling 163 shares during the period. Cigna Investments Inc. New’s holdings in Logitech International were worth $283,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Logitech International during the 4th quarter worth approximately $4,880,000. Sequoia Financial Advisors LLC bought a new position in Logitech International during the 4th quarter worth $206,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Logitech International by 7.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 469,494 shares of the technology company’s stock worth $44,622,000 after buying an additional 32,396 shares during the period. Beverly Hills Private Wealth LLC acquired a new stake in shares of Logitech International in the fourth quarter valued at about $211,000. Finally, Mackenzie Financial Corp increased its position in Logitech International by 44.7% during the 4th quarter. Mackenzie Financial Corp now owns 8,828 shares of the technology company’s stock valued at $836,000 after purchasing an additional 2,726 shares during the period. 45.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LOGI has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Logitech International from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $85.00 in a report on Wednesday, May 1st. Wedbush reaffirmed a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research note on Tuesday, July 16th. Loop Capital boosted their price target on Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday. Barclays increased their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and an average price target of $93.14.

Logitech International Stock Performance

LOGI traded up $0.90 during midday trading on Thursday, reaching $89.16. 412,693 shares of the company were exchanged, compared to its average volume of 475,666. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 2.57 and a beta of 0.80. Logitech International S.A. has a one year low of $65.31 and a one year high of $102.59. The company’s fifty day moving average price is $92.82 and its 200 day moving average price is $89.50.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.20. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. As a group, sell-side analysts anticipate that Logitech International S.A. will post 3.93 earnings per share for the current fiscal year.

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.