Legal & General Group Plc Has $120.79 Million Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Legal & General Group Plc cut its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,458,834 shares of the technology company's stock after selling 442,338 shares during the period. Legal & General Group Plc owned 0.92% of Logitech International worth $120,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LOGI. Barclays PLC boosted its stake in Logitech International by 64.2% in the 3rd 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. Norges Bank bought a new stake in shares of Logitech International during the 4th quarter worth approximately $156,888,000. Assenagon Asset Management S.A. increased its stake in Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company's stock valued at $119,673,000 after acquiring an additional 1,385,493 shares during the last quarter. Vontobel Holding Ltd. raised its position in Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock valued at $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in Logitech International by 700.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company's stock worth $61,978,000 after purchasing an additional 655,025 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley raised Logitech International from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. StockNews.com lowered shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and dropped their price objective for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Kepler Capital Markets raised shares of Logitech International from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Finally, Citigroup dropped their price target on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Logitech International currently has a consensus rating of "Hold" and a consensus target price of $93.43.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the company's stock in a transaction dated 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 in the company, valued at $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Logitech International Stock Down 2.4 %

Shares of NASDAQ LOGI traded down $1.75 during trading on Wednesday, reaching $71.04. The company had a trading volume of 455,421 shares, compared to its average volume of 830,180. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65. The stock has a market cap of $11.23 billion, a P/E ratio of 16.68, a PEG ratio of 2.61 and a beta of 0.97. The company's fifty day moving average price is $90.35 and its 200-day moving average price is $86.89.

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

Logitech International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Logitech International Company 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.