Fulton Bank N.A. Grows Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Fulton Bank N.A. raised its holdings in Logitech International S.A. (NASDAQ:LOGI) by 19.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,971 shares of the technology company’s stock after acquiring an additional 645 shares during the period. Fulton Bank N.A.’s holdings in Logitech International were worth $355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Logitech International in the fourth quarter worth approximately $33,000. Blue Trust Inc. raised its position in shares of Logitech International by 65.6% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after buying an additional 168 shares during the period. National Bank of Canada FI boosted its holdings in Logitech International by 529.4% in the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after acquiring an additional 360 shares during the last quarter. Mather Group LLC. purchased a new stake in Logitech International during the first quarter valued at about $42,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Logitech International during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

Logitech International stock opened at $96.11 on Friday. Logitech International S.A. has a 12-month low of $55.22 and a 12-month high of $102.59. The company has a market capitalization of $15.20 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 3.00 and a beta of 0.82. The firm’s fifty day moving average price is $90.04 and its 200 day moving average price is $89.92.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. Analysts forecast that Logitech International S.A. will post 3.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LOGI has been the topic of a number of research reports. Berenberg Bank started coverage on Logitech International in a report on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective on the stock. Citigroup raised their price target on shares of Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. downgraded shares of Logitech International from an “overweight” rating to a “neutral” rating and cut their target price for the company from $92.00 to $85.00 in a research note on Wednesday, May 1st. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.00.

Insider Buying and Selling at Logitech International

In related news, CFO Charles D. Boynton purchased 1,225 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now owns 1,225 shares in the company, valued at $99,555.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.