Logitech International S.A. (NASDAQ:LOGI) Shares Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,008 shares of the technology company’s stock after acquiring an additional 303 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Logitech International were worth $3,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LOGI. Norges Bank acquired a new stake in shares of Logitech International during the fourth quarter valued at $214,130,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Logitech International by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after buying an additional 760,263 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Logitech International by 20.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after buying an additional 306,948 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Logitech International by 574.6% during the fourth quarter. Russell Investments Group Ltd. now owns 296,210 shares of the technology company’s stock valued at $28,012,000 after buying an additional 252,299 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in Logitech International by 2.3% during the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after acquiring an additional 121,060 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LOGI shares. JPMorgan Chase & Co. lowered Logitech International from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $85.00 in a research note on Wednesday, May 1st. Citigroup upped their price objective on shares of Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. StockNews.com upgraded shares of Logitech International from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Finally, Berenberg Bank assumed coverage on Logitech International in a research report on Thursday, March 14th. They issued a “buy” rating and a $111.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $91.00.

Insider Activity

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. Insiders own 0.15% of the company’s stock.

Logitech International Stock Performance

Shares of LOGI stock traded up $0.44 during trading hours on Wednesday, reaching $94.80. The company had a trading volume of 49,951 shares, compared to its average volume of 451,830. The company has a market capitalization of $14.99 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 2.99 and a beta of 0.80. The stock’s fifty day simple moving average is $92.50 and its 200 day simple moving average is $90.21. Logitech International S.A. has a twelve month low of $57.77 and a twelve month high of $102.59.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. As a group, equities analysts expect 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.