Norges Bank Invests $156.89 Million in Logitech International S.A. (NASDAQ:LOGI)

Norges Bank bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,897,734 shares of the technology company's stock, valued at approximately $156,888,000. Norges Bank owned approximately 1.20% of Logitech International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of LOGI. Sierra Ocean LLC acquired a new stake in shares of Logitech International in the fourth quarter worth $27,000. Exane Asset Management bought a new stake in Logitech International during the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB increased its holdings in Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock valued at $53,000 after purchasing an additional 233 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Logitech International in the third quarter valued at about $105,000. Finally, Global Retirement Partners LLC raised its stake in shares of Logitech International by 109.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company's stock worth $99,000 after acquiring an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business'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 completion of the sale, the insider now owns 7,348 shares of the company's stock, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

LOGI has been the subject of several recent analyst reports. StockNews.com downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Citigroup lifted their price objective on shares of Logitech International from $92.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and dropped their price target for the company from $90.00 to $73.00 in a research note on Friday. Wedbush upgraded Logitech International from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $100.00 to $125.00 in a report on Friday, March 7th. Finally, Barclays boosted their price objective on shares of Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $97.71.

Logitech International Trading Down 3.0 %

Shares of Logitech International stock traded down $2.11 on Friday, hitting $69.30. 2,032,602 shares of the company traded hands, compared to its average volume of 564,169. The firm's 50-day simple moving average is $95.10 and its 200 day simple moving average is $87.91. Logitech International S.A. has a 12-month low of $67.20 and a 12-month high of $105.65. The company has a market cap of $10.96 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.61 and a beta of 0.97.

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

Logitech International announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is 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.