Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,117,649 shares of the technology company's stock after selling 62,038 shares during the period. Alliancebernstein L.P. owned about 0.71% of Logitech International worth $92,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sierra Ocean LLC acquired a new position in Logitech International in the 4th quarter worth $27,000. Exane Asset Management purchased a new stake in shares of Logitech International during the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Logitech International by 56.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock worth $53,000 after acquiring an additional 233 shares in the last quarter. Allianz SE purchased a new position in Logitech International in the fourth quarter valued at about $72,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Logitech International during the 3rd quarter valued at approximately $105,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now owns 7,348 shares of the company's stock, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company's stock.

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Analyst Ratings Changes

LOGI has been the subject of several research analyst reports. StockNews.com cut Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Morgan Stanley upgraded shares of Logitech International from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Kepler Capital Markets raised shares of Logitech International from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Wedbush raised shares of Logitech International from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $100.00 to $125.00 in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $97.71.

Logitech International Trading Up 1.6 %

NASDAQ LOGI traded up $1.11 during trading hours on Tuesday, reaching $69.28. The company's stock had a trading volume of 526,018 shares, compared to its average volume of 570,203. The stock has a market cap of $10.96 billion, a PE ratio of 16.19, a PEG ratio of 2.61 and a beta of 0.97. The business has a 50-day simple moving average of $94.62 and a 200 day simple moving average of $87.79. Logitech International S.A. has a 52 week low of $65.00 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. As a group, equities analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its board has approved a share buyback plan on Wednesday, March 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.