Logitech International S.A. (NASDAQ:LOGI) Position Increased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,273,518 shares of the technology company's stock after purchasing an additional 266,167 shares during the period. Pictet Asset Management Holding SA owned about 1.44% of Logitech International worth $188,254,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Logitech International by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company's stock worth $1,455,000 after acquiring an additional 1,206 shares during the last quarter. Cerity Partners LLC grew its position in Logitech International by 63.4% in the 3rd quarter. Cerity Partners LLC now owns 5,125 shares of the technology company's stock worth $460,000 after purchasing an additional 1,989 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Logitech International by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 67,199 shares of the technology company's stock valued at $6,041,000 after purchasing an additional 392 shares during the period. Townsquare Capital LLC raised its holdings in shares of Logitech International by 3.0% during the third quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company's stock valued at $685,000 after buying an additional 225 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in shares of Logitech International during the third quarter valued at approximately $269,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have recently commented on LOGI. Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Logitech International from $99.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of 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 research report on Thursday, January 23rd. Barclays increased 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. Finally, StockNews.com cut Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $100.14.

Logitech International Stock Performance

Shares of NASDAQ LOGI traded up $0.69 during trading on Wednesday, hitting $85.71. The company had a trading volume of 317,278 shares, compared to its average volume of 546,651. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $105.65. The business's 50-day moving average is $95.98 and its 200 day moving average is $88.15. The company has a market cap of $13.55 billion, a P/E ratio of 20.12, a PEG ratio of 2.61 and a beta of 0.73.

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

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

Insider Activity

In related news, insider Samantha Harnett sold 300 shares of the company's stock in a transaction 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 transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Logitech International 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.