LGT Group Foundation Increases Position in Logitech International S.A. (NASDAQ:LOGI)

LGT Group Foundation raised its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 453,132 shares of the technology company's stock after acquiring an additional 11,285 shares during the quarter. LGT Group Foundation owned approximately 0.29% of Logitech International worth $37,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its position in shares of Logitech International by 39.7% during the 3rd quarter. Private Advisor Group LLC now owns 4,141 shares of the technology company's stock valued at $372,000 after acquiring an additional 1,177 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Logitech International in the 3rd quarter worth $542,000. US Bancorp DE increased its holdings in shares of Logitech International by 2.5% in the 3rd quarter. US Bancorp DE now owns 7,898 shares of the technology company's stock worth $709,000 after buying an additional 196 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Logitech International by 14.4% in the 3rd quarter. QRG Capital Management Inc. now owns 37,022 shares of the technology company's stock valued at $3,322,000 after acquiring an additional 4,652 shares during the last quarter. Finally, Olympiad Research LP lifted its holdings in shares of Logitech International by 4.0% in the 3rd quarter. Olympiad Research LP now owns 8,828 shares of the technology company's stock valued at $792,000 after acquiring an additional 342 shares during the last quarter. Institutional investors own 45.76% of the company's stock.

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Logitech International Stock Performance

Shares of Logitech International stock traded down $1.19 on Thursday, hitting $96.50. The company's stock had a trading volume of 854,944 shares, compared to its average volume of 536,397. The company has a market capitalization of $15.26 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $105.65. The firm has a fifty day moving average price of $93.75 and a 200-day moving average price of $87.83.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that Logitech International S.A. will post 4.21 EPS for the current year.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Kepler Capital Markets raised shares of Logitech International from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. UBS Group raised shares of Logitech International from a "sell" rating to a "neutral" rating in a research report on Wednesday, November 20th. Wedbush restated a "neutral" rating and set a $88.00 target price on shares of Logitech International in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their target price on Logitech International from $99.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Finally, Bank of America reissued an "underperform" rating and set a $90.00 price target (down from $105.00) on shares of Logitech International in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Logitech International currently has an average rating of "Hold" and an average price target of $96.88.

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 7,348 shares of the company's stock, valued at $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

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.