Nicola Wealth Management LTD. Takes $378,000 Position in Logitech International S.A. (NASDAQ:LOGI)

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Nicola Wealth Management LTD. bought a new stake in shares of Logitech International S.A. (NASDAQ:LOGI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,857 shares of the technology company’s stock, valued at approximately $378,000.

Several other large investors have also recently bought and sold shares of LOGI. Vanguard Group Inc. lifted its holdings in shares of Logitech International by 1.6% in the second quarter. Vanguard Group Inc. now owns 4,625,282 shares of the technology company’s stock valued at $301,661,000 after buying an additional 74,459 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Logitech International by 10.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,942,213 shares of the technology company’s stock valued at $229,550,000 after buying an additional 266,442 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Logitech International by 31.8% in the 2nd quarter. Two Sigma Advisers LP now owns 956,684 shares of the technology company’s stock valued at $62,395,000 after buying an additional 230,910 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Logitech International by 95.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 694,130 shares of the technology company’s stock valued at $45,271,000 after buying an additional 338,446 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Logitech International by 12.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 542,620 shares of the technology company’s stock valued at $41,836,000 after buying an additional 58,824 shares in the last quarter. 35.28% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:LOGI opened at $82.34 on Tuesday. Logitech International S.A. has a 12-month low of $31.37 and a 12-month high of $95.71. The firm has a market capitalization of $13.85 billion, a P/E ratio of 21.10 and a beta of 0.92. The stock’s fifty day simple moving average is $82.93 and its 200-day simple moving average is $69.52.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, October 19th. The technology company reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $1.33. Logitech International had a return on equity of 38.26% and a net margin of 18.31%. On average, sell-side analysts predict that Logitech International S.A. will post 3.99 earnings per share for the current year.

A number of analysts recently commented on the stock. Citigroup lifted their target price on shares of Logitech International from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. UBS Group reiterated a “neutral” rating on shares of Logitech International in a research note on Wednesday, October 21st. Morgan Stanley initiated coverage on shares of Logitech International in a research note on Thursday, November 12th. They issued an “overweight” rating and a $100.00 target price for the company. Loop Capital lifted their price objective on shares of Logitech International from $81.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Finally, JPMorgan Chase & Co. raised shares of Logitech International from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Logitech International presently has an average rating of “Hold” and an average price target of $87.78.

In related news, insider Prakash Arunkundrum sold 5,000 shares of Logitech International stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $95.00, for a total value of $475,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Bracken Darrell sold 41,666 shares of Logitech International stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $84.66, for a total value of $3,527,443.56. Following the completion of the sale, the chief executive officer now directly owns 806,838 shares in the company, valued at approximately $68,306,905.08. The disclosure for this sale can be found here. Insiders sold a total of 88,332 shares of company stock worth $7,259,475 in the last three months. Company insiders own 1.10% of the company’s stock.

Logitech International Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences. The company offers pointing devices, such as wireless mouse and trackball; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

Further Reading: The Role of a Fiduciary and Individual Investors

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

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