Renaissance Technologies LLC Increases Position in Logitech International S.A. (NASDAQ:LOGI)

Renaissance Technologies LLC lifted its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,833,708 shares of the technology company's stock after buying an additional 18,100 shares during the quarter. Renaissance Technologies LLC owned about 1.16% of Logitech International worth $151,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LOGI. Janney Montgomery Scott LLC raised its stake in Logitech International by 4,876.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company's stock worth $13,798,000 after acquiring an additional 164,185 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Logitech International by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company's stock worth $1,455,000 after purchasing an additional 1,206 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Logitech International by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock valued at $28,913,000 after purchasing an additional 18,986 shares during the period. US Bancorp DE raised its position in shares of Logitech International by 5.6% during the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock valued at $687,000 after purchasing an additional 446 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Logitech International during the 3rd quarter valued at $12,597,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have commented on LOGI shares. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Morgan Stanley raised Logitech International from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and lowered their price target for the stock from $90.00 to $73.00 in a report on Friday, April 4th. 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, 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. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Logitech International currently has an average rating of "Hold" and a consensus target price of $97.71.

Logitech International Price Performance

Shares of NASDAQ LOGI traded up $1.30 during midday trading on Friday, reaching $71.67. 1,059,077 shares of the stock traded hands, compared to its average volume of 594,049. The company's 50 day moving average is $91.42 and its 200 day moving average is $87.10. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65. The stock has a market capitalization of $11.33 billion, a PE ratio of 16.82, a P/E/G ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping 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%. As a group, equities analysts forecast that Logitech International S.A. will post 4.21 EPS for the current year.

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

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the 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 sale, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.