Fmr LLC Lowers Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Fmr LLC lowered its stake in Logitech International S.A. (NASDAQ:LOGI) by 19.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,419 shares of the technology company’s stock after selling 16,120 shares during the period. Fmr LLC’s holdings in Logitech International were worth $6,108,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LOGI. Sequoia Financial Advisors LLC acquired a new stake in Logitech International in the second quarter valued at $217,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Logitech International during the second quarter worth about $226,000. Blue Trust Inc. grew its position in Logitech International by 2,036.8% during the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock worth $130,000 after buying an additional 1,385 shares during the period. First Citizens Bank & Trust Co. increased its holdings in Logitech International by 2.4% in the second quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the technology company’s stock valued at $627,000 after buying an additional 153 shares in the last quarter. Finally, Capital Insight Partners LLC lifted its position in shares of Logitech International by 0.8% during the 2nd quarter. Capital Insight Partners LLC now owns 45,253 shares of the technology company’s stock valued at $4,384,000 after acquiring an additional 379 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Wall Street Analyst Weigh In

LOGI has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Barclays reduced their target price on Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research report on Wednesday, October 23rd. Loop Capital cut their price target on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.00.

Logitech International Price Performance

Shares of LOGI stock opened at $84.63 on Friday. The firm has a market cap of $13.38 billion, a P/E ratio of 18.85, a PEG ratio of 1.93 and a beta of 0.78. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $102.59. The stock’s 50-day moving average is $82.66 and its two-hundred day moving average is $88.44.

Insider Activity

In related news, Director Guy Gecht bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. The trade was a 15.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Logitech International Company 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.