Logitech International SA (NASDAQ:LOGI) Stake Raised by Jackson Square Partners LLC
Jackson Square Partners LLC lifted its position in shares of Logitech International SA (NASDAQ:LOGI) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,296,359 shares of the technology company’s stock after acquiring an additional 170,388 shares during the quarter. Jackson Square Partners LLC’s holdings in Logitech International were worth $90,071,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG boosted its stake in shares of Logitech International by 2.3% during the 4th quarter. Deutsche Bank AG now owns 4,801,446 shares of the technology company’s stock worth $150,183,000 after acquiring an additional 108,687 shares in the last quarter. Norges Bank purchased a new stake in shares of Logitech International during the 4th quarter worth about $110,282,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Logitech International by 6.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,812,552 shares of the technology company’s stock worth $110,226,000 after acquiring an additional 174,027 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Logitech International by 54.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,280,706 shares of the technology company’s stock worth $40,060,000 after acquiring an additional 453,782 shares in the last quarter. Finally, GAM Holding AG boosted its stake in shares of Logitech International by 7.9% during the 1st quarter. GAM Holding AG now owns 1,089,421 shares of the technology company’s stock worth $42,743,000 after acquiring an additional 79,447 shares in the last quarter. 32.84% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Zacks Investment Research raised shares of Logitech International from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, April 2nd. Finally, Maxim Group reissued a “hold” rating and set a $34.00 target price on shares of Logitech International in a research note on Monday, March 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $45.29.
Logitech International stock traded down $0.27 during midday trading on Wednesday, reaching $37.87. The company had a trading volume of 84,973 shares, compared to its average volume of 236,813. The firm has a market capitalization of $6.25 billion, a PE ratio of 21.76, a P/E/G ratio of 2.25 and a beta of 1.19. Logitech International SA has a 12-month low of $29.06 and a 12-month high of $49.96.
Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. The firm had revenue of $624.31 million for the quarter, compared to analyst estimates of $619.43 million. Logitech International had a net margin of 9.24% and a return on equity of 26.79%. On average, equities analysts anticipate that Logitech International SA will post 1.87 EPS for the current fiscal year.
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Logitech International Profile
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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