Park Avenue Securities LLC Buys New Shares in Logitech International S.A. (NASDAQ:LOGI)

Park Avenue Securities LLC purchased a new position in Logitech International S.A. (NASDAQ:LOGI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,614 shares of the technology company’s stock, valued at approximately $680,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Logitech International in the fourth quarter worth approximately $33,000. Blue Trust Inc. grew its stake in shares of Logitech International by 65.6% during 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 increased its holdings in shares of Logitech International by 529.4% during the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after buying an additional 360 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Logitech International in the 1st quarter worth $42,000. Finally, Tower Research Capital LLC TRC acquired a new position in Logitech International in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Charles D. Boynton purchased 1,225 shares of Logitech International stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $81.27 per share, with a total value of $99,555.75. Following the completion of the transaction, the chief financial officer now owns 1,225 shares of the company’s stock, valued at approximately $99,555.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on LOGI. Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 price objective (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Logitech International in a research report on Tuesday, April 16th. JPMorgan Chase & Co. cut shares of Logitech International from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. Berenberg Bank initiated coverage on Logitech International in a research report on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective on the stock. Finally, Wedbush restated a “neutral” rating and set a $92.00 price objective on shares of Logitech International in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.00.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $96.32 on Friday. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.02 and a beta of 0.82. Logitech International S.A. has a 1 year low of $57.70 and a 1 year high of $102.59. The stock’s 50-day simple moving average is $91.44 and its 200-day simple moving average is $90.19.

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

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.