Logitech International S.A. $LOGI Shares Sold by L2 Asset Management LLC

L2 Asset Management LLC lowered its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 16.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,427 shares of the technology company’s stock after selling 12,878 shares during the quarter. L2 Asset Management LLC’s holdings in Logitech International were worth $6,657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOGI. AQR Capital Management LLC boosted its position in Logitech International by 61.2% during the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock valued at $352,000 after purchasing an additional 1,585 shares during the period. Rhumbline Advisers boosted its position in Logitech International by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 4,732 shares of the technology company’s stock valued at $426,000 after purchasing an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after purchasing an additional 165 shares during the period. EverSource Wealth Advisors LLC boosted its position in Logitech International by 13.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock valued at $160,000 after purchasing an additional 206 shares during the period. Finally, Guggenheim Capital LLC boosted its position in Logitech International by 1.3% during the 2nd quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock valued at $918,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of Logitech International stock opened at $110.90 on Tuesday. The business’s fifty day moving average price is $104.55 and its two-hundred day moving average price is $99.96. The company has a market capitalization of $16.26 billion, a P/E ratio of 23.10, a PEG ratio of 2.82 and a beta of 1.13. Logitech International S.A. has a 1-year low of $83.32 and a 1-year high of $129.66.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. On average, research analysts expect that Logitech International S.A. will post 5.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Citigroup boosted their price objective on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays boosted their price objective on Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of Logitech International in a research note on Wednesday, May 6th. Finally, UBS Group downgraded Logitech International from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 17th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.67.

About Logitech International

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.