Bank Julius Baer & Co. Ltd Zurich Increases Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Bank Julius Baer & Co. Ltd Zurich increased its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 700.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 748,580 shares of the technology company's stock after buying an additional 655,025 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.47% of Logitech International worth $61,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Sierra Ocean LLC purchased a new stake in shares of Logitech International during the 4th quarter worth $27,000. Exane Asset Management bought a new position in Logitech International in the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Logitech International by 56.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock valued at $53,000 after buying an additional 233 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in shares of Logitech International by 115,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company's stock valued at $104,000 after buying an additional 1,153 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Logitech International in the 3rd quarter worth approximately $105,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Insider Transactions at Logitech International

In related news, insider Samantha Harnett sold 300 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now directly owns 7,348 shares of the company's stock, valued at approximately $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

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Logitech International Trading Down 1.9 %

NASDAQ LOGI traded down $1.75 on Wednesday, hitting $90.44. 876,229 shares of the company's stock traded hands, compared to its average volume of 781,098. The firm's 50-day moving average price is $95.01 and its two-hundred day moving average price is $87.96. The firm has a market capitalization of $14.30 billion, a PE ratio of 21.23, a P/E/G 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.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) 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%. On average, research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

LOGI has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Logitech International from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised their price objective on Logitech International from $99.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. StockNews.com lowered Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Wedbush upgraded Logitech International from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Finally, Citigroup upped their price objective on shares of Logitech International from $92.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $101.50.

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.