First Citizens Bank & Trust Co. Makes New Investment in Logitech International S.A. $LOGI

First Citizens Bank & Trust Co. acquired a new position in Logitech International S.A. (NASDAQ:LOGI) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,332 shares of the technology company’s stock, valued at approximately $639,000.

Several other large investors have also recently bought and sold shares of LOGI. Assenagon Asset Management S.A. raised its stake in shares of Logitech International by 2,227.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock worth $98,189,000 after buying an additional 1,000,805 shares in the last quarter. Amundi increased its position in shares of Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after acquiring an additional 563,564 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Logitech International by 26.6% during the first quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock valued at $188,847,000 after acquiring an additional 435,000 shares during the period. SEB Asset Management AB acquired a new stake in shares of Logitech International during the first quarter valued at approximately $27,567,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Logitech International during the second quarter valued at approximately $18,281,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Stock Performance

LOGI stock opened at $104.41 on Friday. The firm has a 50 day simple moving average of $101.05 and a 200 day simple moving average of $102.36. Logitech International S.A. has a 52 week low of $83.32 and a 52 week high of $129.66. The stock has a market cap of $15.31 billion, a P/E ratio of 19.16, a P/E/G ratio of 3.82 and a beta of 1.14.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, beating 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 firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Logitech International S.A. will post 5.26 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 on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the transaction, the insider directly owned 37,097 shares in the company, valued at $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 available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LOGI has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Wedbush lowered their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley cut their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Barclays decreased 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. Finally, JPMorgan Chase & Co. lowered their price target on Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $104.14.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software intended to help people connect, create, communicate and interact with digital devices. Its products are sold to consumers, businesses, educators, gamers, streamers and other professional users through retailers, online channels and business partners worldwide.

The company’s product portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, presentation devices and accessories.