Silverlake Wealth Management LLC Reduces Position in Logitech International S.A. (NASDAQ:LOGI)

Silverlake Wealth Management LLC cut its stake in Logitech International S.A. (NASDAQ:LOGI) by 9.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,650 shares of the technology company’s stock after selling 275 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Logitech International were worth $237,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Logitech International in the 4th quarter valued at approximately $33,000. Blue Trust Inc. lifted its stake in Logitech International by 65.6% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after purchasing an additional 168 shares in the last quarter. National Bank of Canada FI grew its stake in shares of 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 buying an additional 360 shares in the last quarter. Mather Group LLC. acquired a new position in Logitech International in the 1st quarter valued at about $42,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Logitech International during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 price target (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. StockNews.com raised Logitech International from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wedbush restated a “neutral” rating and set a $92.00 target price on shares of Logitech International in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Finally, Citigroup upped their target price 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $91.00.

Insider Activity

In other news, CFO Charles D. Boynton purchased 1,225 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the purchase, the chief financial officer now directly owns 1,225 shares in the company, valued at approximately $99,555.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company’s stock.

Logitech International Price Performance

LOGI stock opened at $94.36 on Wednesday. Logitech International S.A. has a 12 month low of $57.77 and a 12 month high of $102.59. The company has a market cap of $14.92 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 2.99 and a beta of 0.80. The company has a fifty day moving average price of $92.50 and a 200 day moving average price of $90.21.

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

Logitech International Profile

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.