Voya Investment Management LLC Lowers Position in Logitech International S.A. $LOGI

Voya Investment Management LLC decreased its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 21.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,464 shares of the technology company’s stock after selling 5,067 shares during the period. Voya Investment Management LLC’s holdings in Logitech International were worth $2,014,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in shares of Logitech International during the second quarter valued at approximately $27,000. Quarry LP purchased a new position in Logitech International during the first quarter valued at $33,000. Westerkirk Capital Inc. purchased a new position in Logitech International during the second quarter valued at $36,000. Groupe la Francaise bought a new stake in shares of Logitech International during the 2nd quarter valued at $47,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Logitech International by 40.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after buying an additional 165 shares during the period. Institutional investors own 45.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LOGI. Morgan Stanley lowered their price target on shares of Logitech International from $108.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a report on Wednesday, October 8th. Citigroup raised Logitech International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $130.00 in a research report on Wednesday, October 15th. Barclays raised their price objective on Logitech International from $107.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.22.

Insiders Place Their Bets

In other Logitech International news, Director Neela Montgomery sold 5,833 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $120.61, for a total value of $703,518.13. Following the completion of the transaction, the director owned 12,781 shares of the company’s stock, valued at approximately $1,541,516.41. The trade was a 31.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Logitech International Stock Up 0.3%

LOGI stock opened at $105.26 on Monday. The stock’s 50 day simple moving average is $113.64 and its 200 day simple moving average is $104.65. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $123.01.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.23. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Logitech International had a return on equity of 32.22% and a net margin of 14.11%.The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. As a group, equities research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.