Quadrant Capital Group LLC Makes New $998,000 Investment in Logitech International S.A. $LOGI

Quadrant Capital Group LLC bought a new position in Logitech International S.A. (NASDAQ:LOGI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,707 shares of the technology company’s stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB bought a new position in Logitech International in the third quarter valued at $64,000. Rockefeller Capital Management L.P. raised its position in Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock valued at $86,000 after purchasing an additional 114 shares in the last quarter. Fifth Third Bancorp lifted its stake in Logitech International by 19.1% during the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after purchasing an additional 145 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in Logitech International during the third quarter worth about $117,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Logitech International during the second quarter worth about $115,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Stock Down 2.5%

Shares of NASDAQ:LOGI opened at $109.66 on Friday. The stock has a market cap of $16.08 billion, a PE ratio of 20.12, a PEG ratio of 4.08 and a beta of 1.14. The company’s fifty day moving average is $101.64 and its 200 day moving average is $103.01. Logitech International S.A. has a 52 week low of $83.32 and a 52 week high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Logitech International S.A. will post 5.14 EPS for the current year.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the sale, the insider owned 37,097 shares of the company’s stock, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays dropped their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their target price on Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Wedbush cut their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Morgan Stanley reduced their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.14.

Logitech International Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.