Teachers Retirement System of The State of Kentucky Reduces Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,000 shares of the technology company’s stock after selling 6,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Logitech International were worth $3,993,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new position in Logitech International during the 4th quarter valued at $33,000. Blue Trust Inc. grew its stake in Logitech International by 65.6% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after purchasing an additional 168 shares in the last quarter. National Bank of Canada FI grew its stake in Logitech International by 529.4% in the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after purchasing an additional 360 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Logitech International during the fourth quarter valued at approximately $46,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Logitech International during the 4th quarter worth approximately $104,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Analysts Set New Price Targets

LOGI has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $75.00 price target (down from $85.00) on shares of Logitech International in a report on Monday, April 15th. JPMorgan Chase & Co. downgraded shares of Logitech International from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. Berenberg Bank began coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective for the company. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. Finally, Citigroup lifted their target price on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $91.00.

Logitech International Trading Up 0.4 %

Shares of NASDAQ:LOGI opened at $99.15 on Tuesday. The firm’s 50 day moving average is $89.18 and its two-hundred day moving average is $89.66. The firm has a market capitalization of $15.68 billion, a P/E ratio of 25.62, a PEG ratio of 3.05 and a beta of 0.82. Logitech International S.A. has a 52 week low of $53.91 and a 52 week high of $102.59.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.34. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. Analysts predict that Logitech International S.A. will post 3.85 EPS for the current year.

Insider Buying and Selling at Logitech International

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

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.