Raymond James Financial Services Advisors Inc. Cuts Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Raymond James Financial Services Advisors Inc. cut its holdings in Logitech International S.A. (NASDAQ:LOGI) by 48.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,249 shares of the technology company’s stock after selling 4,979 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Logitech International were worth $499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Impact Partnership Wealth LLC purchased a new position in shares of Logitech International in the third quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in Logitech International by 233.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 551 shares of the technology company’s stock worth $34,000 after buying an additional 386 shares during the period. Allworth Financial LP boosted its stake in Logitech International by 249.1% during the third quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock worth $52,000 after buying an additional 538 shares during the period. GHP Investment Advisors Inc. purchased a new position in Logitech International during the third quarter worth $73,000. Finally, CWM LLC boosted its stake in Logitech International by 16.9% during the third quarter. CWM LLC now owns 1,127 shares of the technology company’s stock worth $78,000 after buying an additional 163 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Performance

Shares of LOGI stock opened at $77.31 on Friday. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.63 and a beta of 0.74. The stock’s 50-day simple moving average is $87.87 and its 200-day simple moving average is $85.93. Logitech International S.A. has a fifty-two week low of $53.91 and a fifty-two week high of $96.66.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.43. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. As a group, equities analysts forecast that Logitech International S.A. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on LOGI. Berenberg Bank began coverage on shares of Logitech International in a research note on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research note on Tuesday. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Wedbush reaffirmed a “neutral” rating and set a $92.00 price objective on shares of Logitech International in a research note on Monday, March 18th. Finally, Barclays lifted their target price on Logitech International from $96.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Logitech International presently has an average rating of “Hold” and a consensus price target of $92.43.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Logitech International news, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $90.00, for a total value of $62,910.00. Following the completion of the sale, the chief operating officer now owns 67,848 shares of the company’s stock, valued at $6,106,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,572 shares of company stock valued at $2,207,555. 0.15% of the stock is owned by insiders.

Logitech International Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.