Logitech International S.A. (NASDAQ:LOGI) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Logitech International S.A. (NASDAQ:LOGI) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,009 shares of the technology company’s stock after selling 339 shares during the period. PNC Financial Services Group Inc.’s holdings in Logitech International were worth $571,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LOGI. Benjamin F. Edwards & Company Inc. purchased a new position in Logitech International in the 4th quarter valued at approximately $33,000. Blue Trust Inc. boosted its position in Logitech International by 65.6% in the 4th 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 boosted its position in Logitech International by 529.4% in the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after buying an additional 360 shares during the period. Tower Research Capital LLC TRC purchased a new position in Logitech International in the 4th quarter valued at approximately $46,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Logitech International in the 4th quarter valued at approximately $104,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of LOGI opened at $96.27 on Thursday. Logitech International S.A. has a 1-year low of $56.28 and a 1-year high of $102.59. The stock has a market cap of $15.23 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 3.02 and a beta of 0.82. The firm has a fifty day moving average price of $91.07 and a 200 day moving average price of $90.15.

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

Analyst Ratings Changes

Several equities analysts have commented on LOGI shares. Morgan Stanley reissued an “underweight” rating and issued a $75.00 price target (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Wedbush reaffirmed a “neutral” rating and set a $92.00 price objective on shares of Logitech International in a research report on Tuesday, April 30th. Citigroup lifted their price objective on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. cut shares of Logitech International from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. Finally, StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.00.

Insider Activity at Logitech International

In related news, CFO Charles D. Boynton purchased 1,225 shares of Logitech International stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $81.27 per share, with a total value of $99,555.75. Following the completion of the transaction, the chief financial officer now directly owns 1,225 shares in the company, valued at $99,555.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by corporate insiders.

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.