Geode Capital Management LLC Decreases Stake in Logitech International S.A. (NASDAQ:LOGI)

Geode Capital Management LLC cut its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 128,879 shares of the technology company’s stock after selling 190 shares during the quarter. Geode Capital Management LLC’s holdings in Logitech International were worth $11,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of Logitech International in the second quarter valued at approximately $35,000. Employees Retirement System of Texas bought a new stake in Logitech International during the 2nd quarter valued at $63,000. Benjamin F. Edwards & Company Inc. raised its holdings in Logitech International by 139.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after acquiring an additional 495 shares during the period. Transamerica Financial Advisors Inc. lifted its position in shares of Logitech International by 115,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,153 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Logitech International by 21.3% in the third quarter. CWM LLC now owns 2,062 shares of the technology company’s stock worth $185,000 after acquiring an additional 362 shares during the period. Institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $82.35 on Wednesday. Logitech International S.A. has a one year low of $74.72 and a one year high of $102.59. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.92 and a beta of 0.78. The company’s fifty day moving average price is $81.66 and its 200-day moving average price is $86.91.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LOGI. Bank of America cut Logitech International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $114.00 to $92.00 in a report on Monday, December 16th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Barclays reduced their price objective on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Finally, Loop Capital reduced their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.88.

Insider Activity at Logitech International

In other Logitech International news, Director Guy Gecht purchased 2,500 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $81.12 per share, with a total value of $202,800.00. Following the completion of the purchase, the director now owns 18,503 shares of the company’s stock, valued at $1,500,963.36. The trade was a 15.62 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by 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.