Quantamental Technologies LLC Buys New Stake in Logitech International SA (LOGI)

Posted by Logan Wallace on Feb 9th, 2019 // No Comments

Quantamental Technologies LLC bought a new position in shares of Logitech International SA (NASDAQ:LOGI) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,400 shares of the technology company’s stock, valued at approximately $75,000.

Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC acquired a new position in shares of Logitech International during the 3rd quarter worth about $203,000. Virtu Financial LLC acquired a new position in shares of Logitech International during the 3rd quarter worth about $232,000. Fox Run Management L.L.C. acquired a new position in shares of Logitech International during the 3rd quarter worth about $238,000. Commonwealth Bank of Australia acquired a new position in shares of Logitech International during the 3rd quarter worth about $250,000. Finally, AMP Capital Investors Ltd acquired a new position in shares of Logitech International during the 3rd quarter worth about $272,000. Institutional investors own 37.39% of the company’s stock.

Shares of LOGI opened at $35.31 on Friday. Logitech International SA has a 52-week low of $29.06 and a 52-week high of $49.96. The company has a market capitalization of $5.83 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, January 21st. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.17. Logitech International had a return on equity of 26.85% and a net margin of 9.06%. The business had revenue of $864.39 million during the quarter, compared to analyst estimates of $854.11 million. During the same period in the previous year, the firm earned $0.65 EPS. Logitech International’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that Logitech International SA will post 1.72 earnings per share for the current fiscal year.

LOGI has been the subject of several analyst reports. Citigroup decreased their target price on Logitech International from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, October 16th. BidaskClub lowered Logitech International from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 17th. Maxim Group began coverage on Logitech International in a research report on Monday, November 5th. They issued a “sell” rating for the company. Goldman Sachs Group upgraded Logitech International from a “neutral” rating to a “buy” rating in a research report on Monday, January 28th. Finally, JPMorgan Chase & Co. upgraded Logitech International from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $42.00 in a research report on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $44.29.

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About Logitech International

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.