Franklin Resources Inc. Cuts Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Franklin Resources Inc. trimmed its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 357,157 shares of the technology company’s stock after selling 13,730 shares during the quarter. Franklin Resources Inc.’s holdings in Logitech International were worth $31,626,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares during the period. Acadian Asset Management LLC boosted its position in Logitech International by 7.4% in the 2nd quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after buying an additional 457,630 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Logitech International in the third quarter worth $15,891,000. Marshall Wace LLP increased its position in shares of Logitech International by 57.3% during the second quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after acquiring an additional 164,307 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in shares of Logitech International in the third quarter valued at $12,597,000. 45.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays lowered their target price on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Bank of America downgraded Logitech International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $114.00 to $92.00 in a research report on Monday. Loop Capital reduced their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price target on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.88.

Logitech International Price Performance

Shares of LOGI opened at $81.66 on Thursday. Logitech International S.A. has a 1-year low of $74.72 and a 1-year high of $102.59. The stock has a market cap of $12.91 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. The firm has a fifty day moving average price of $82.46 and a 200 day moving average price of $88.00.

Insider Activity

In other Logitech International news, Director Guy Gecht bought 2,500 shares of the stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the transaction, the director now owns 18,503 shares in the company, valued at approximately $1,500,963.36. The trade was a 15.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

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.