Ossiam Trims Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Ossiam trimmed its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,008 shares of the technology company's stock after selling 13,099 shares during the period. Ossiam's holdings in Logitech International were worth $1,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company's stock worth $458,000 after buying an additional 127 shares during the last quarter. Freedom Investment Management Inc. grew its stake in shares of Logitech International by 4.1% during the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company's stock worth $284,000 after acquiring an additional 136 shares during the last quarter. Tealwood Asset Management Inc. grew its stake in shares of Logitech International by 1.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company's stock worth $1,231,000 after acquiring an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Logitech International by 16.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company's stock valued at $123,000 after purchasing an additional 213 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Logitech International by 7.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company's stock worth $267,000 after purchasing an additional 230 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Performance

Logitech International stock traded up $0.64 during trading on Friday, reaching $77.79. The company had a trading volume of 840,056 shares, compared to its average volume of 602,068. The firm's 50-day simple moving average is $86.27 and its 200 day simple moving average is $86.22. The firm has a market capitalization of $12.30 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a 1-year low of $64.73 and a 1-year high of $105.65.

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 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%. Analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its board has approved a stock repurchase program 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 programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, insider Samantha Harnett sold 300 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com lowered Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Kepler Capital Markets upgraded shares of Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Morgan Stanley upgraded shares of Logitech International from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. cut their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays boosted their target price on shares of Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $88.43.

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.