Private Advisor Group LLC trimmed its stake in Logitech International SA (NASDAQ:LOGI) by 5.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,348 shares of the technology company’s stock after selling 1,720 shares during the quarter. Private Advisor Group LLC’s holdings in Logitech International were worth $1,167,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of LOGI. Dimensional Fund Advisors LP grew its holdings in shares of Logitech International by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 353,268 shares of the technology company’s stock worth $11,050,000 after acquiring an additional 20,300 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Logitech International in the 1st quarter worth $165,000. Bank of Montreal Can grew its holdings in shares of Logitech International by 36.7% in the 1st quarter. Bank of Montreal Can now owns 11,580 shares of the technology company’s stock worth $456,000 after acquiring an additional 3,108 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Logitech International by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,350 shares of the technology company’s stock worth $53,000 after acquiring an additional 450 shares during the last quarter. Finally, Fosun International Ltd acquired a new position in shares of Logitech International in the 1st quarter worth $475,000. Institutional investors and hedge funds own 34.18% of the company’s stock.
Shares of LOGI stock traded down $0.42 on Monday, reaching $40.11. 3,201 shares of the company’s stock traded hands, compared to its average volume of 135,338. Logitech International SA has a 12-month low of $29.06 and a 12-month high of $46.33. The company has a market capitalization of $6.66 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 2.38 and a beta of 1.30. The business’s 50 day moving average price is $40.27 and its two-hundred day moving average price is $39.33.
The firm also recently declared a — dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.7446 per share. The ex-dividend date was Wednesday, September 18th. This represents a dividend yield of 1.8%.
In other news, CEO Bracken Darrell sold 18,656 shares of Logitech International stock in a transaction on Monday, September 16th. The stock was sold at an average price of $41.70, for a total transaction of $777,955.20. Following the transaction, the chief executive officer now owns 741,953 shares in the company, valued at $30,939,440.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.
A number of equities analysts recently issued reports on the company. DA Davidson set a $58.00 target price on Logitech International and gave the stock a “buy” rating in a report on Friday, August 16th. BidaskClub upgraded Logitech International from a “hold” rating to a “buy” rating in a report on Saturday, August 24th. Citigroup set a $46.00 price target on Logitech International and gave the company a “buy” rating in a report on Wednesday, July 3rd. ValuEngine upgraded Logitech International from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Finally, Maxim Group reiterated a “hold” rating and set a $36.00 price target on shares of Logitech International in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $45.17.
About Logitech International
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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