Logitech International SA (NASDAQ:LOGI) Holdings Trimmed by Jane Street Group LLC

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Jane Street Group LLC reduced its position in shares of Logitech International SA (NASDAQ:LOGI) by 15.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 122,189 shares of the technology company’s stock after selling 23,000 shares during the quarter. Jane Street Group LLC owned about 0.07% of Logitech International worth $5,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOGI. JPMorgan Chase & Co. increased its stake in Logitech International by 123.0% in the first quarter. JPMorgan Chase & Co. now owns 2,961,717 shares of the technology company’s stock worth $108,784,000 after purchasing an additional 1,633,532 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Logitech International by 4.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,578,251 shares of the technology company’s stock worth $113,391,000 after purchasing an additional 114,196 shares during the period. Credit Agricole S A increased its stake in Logitech International by 3.8% in the first quarter. Credit Agricole S A now owns 1,266,600 shares of the technology company’s stock worth $46,523,000 after purchasing an additional 46,000 shares during the period. Bank of New York Mellon Corp increased its stake in Logitech International by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 1,058,245 shares of the technology company’s stock worth $46,542,000 after purchasing an additional 127,149 shares during the period. Finally, Compagnie Lombard Odier SCmA increased its stake in Logitech International by 56.3% in the first quarter. Compagnie Lombard Odier SCmA now owns 547,978 shares of the technology company’s stock worth $20,012,000 after purchasing an additional 197,450 shares during the period. Hedge funds and other institutional investors own 36.45% of the company’s stock.

In related news, CEO Bracken Darrell sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $45.66, for a total transaction of $4,566,000.00. Following the sale, the chief executive officer now owns 712,137 shares of the company’s stock, valued at $32,516,175.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

A number of research firms have weighed in on LOGI. Citigroup increased their target price on Logitech International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. DA Davidson raised their price target on Logitech International to $55.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Zacks Investment Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 24th. BidaskClub lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Finally, Loop Capital raised their price target on Logitech International to $53.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $49.60.

Shares of Logitech International stock traded up $0.63 during trading on Friday, hitting $39.11. 244,415 shares of the stock traded hands, compared to its average volume of 337,557. The firm has a market cap of $7.34 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.80 and a beta of 0.96. Logitech International SA has a 52-week low of $32.66 and a 52-week high of $49.96.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, July 30th. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Logitech International had a return on equity of 24.63% and a net margin of 7.97%. The company had revenue of $608.48 million for the quarter, compared to the consensus estimate of $584.37 million. During the same quarter last year, the company earned $0.24 earnings per share. As a group, research analysts forecast that Logitech International SA will post 1.6 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Logitech International (NASDAQ:LOGI)

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