TD Asset Management Inc. lowered its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Get Rating) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 496,039 shares of the technology company's stock after selling 5,047 shares during the period. TD Asset Management Inc. owned about 0.30% of Logitech International worth $22,728,000 at the end of the most recent reporting period.
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A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of Logitech International by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,018 shares of the technology company's stock valued at $223,000 after buying an additional 249 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of Logitech International in the first quarter valued at approximately $1,064,000. BlackRock Inc. raised its position in shares of Logitech International by 19.2% in the first quarter. BlackRock Inc. now owns 578,107 shares of the technology company's stock valued at $42,652,000 after buying an additional 93,104 shares during the last quarter. Cibc World Market Inc. raised its position in shares of Logitech International by 51.9% in the first quarter. Cibc World Market Inc. now owns 8,775 shares of the technology company's stock valued at $647,000 after buying an additional 3,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Logitech International by 24.2% in the first quarter. Dimensional Fund Advisors LP now owns 469,184 shares of the technology company's stock valued at $34,625,000 after buying an additional 91,536 shares during the last quarter. Institutional investors and hedge funds own 35.93% of the company's stock.
Analyst Upgrades and Downgrades
LOGI has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Logitech International from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, January 25th. UBS Group dropped their price target on shares of Logitech International from CHF 70 to CHF 66 and set a "buy" rating for the company in a research report on Friday, January 13th. Loop Capital upped their price target on shares of Logitech International from $50.00 to $55.00 in a research report on Thursday, January 26th. Barclays started coverage on shares of Logitech International in a research report on Wednesday, November 9th. They set an "overweight" rating and a $65.00 price target for the company. Finally, Wedbush lowered shares of Logitech International from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $70.00 to $60.00 in a research report on Thursday, January 12th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $70.00.
Logitech International Stock Up 0.4 %
LOGI opened at $58.37 on Wednesday. Logitech International S.A. has a 52-week low of $41.81 and a 52-week high of $83.48. The company has a 50 day moving average of $60.26 and a two-hundred day moving average of $54.73. The company has a market cap of $9.55 billion, a P/E ratio of 22.36, a P/E/G ratio of 4.50 and a beta of 1.00.
Insiders Place Their Bets
In other news, insider Prakash Arunkundrum sold 5,831 shares of the company's stock in a transaction on Friday, January 6th. The shares were sold at an average price of $65.04, for a total value of $379,248.24. Following the completion of the transaction, the insider now directly owns 63,000 shares in the company, valued at $4,097,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by insiders.
About Logitech International
Logitech International SA is a holding company, which engages in the design, manufacture, and marketing of peripherals for PCs, tablets, and other digital platforms. Its products include mice, keyboards, presentation remotes, headsets, and speakers. The firm offers solutions for healthy computing, wireless charging, streaming, virtual reality, schools, healthcare, and software and apps.
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