Russell Investments Group Ltd. Sells 93,282 Shares of Logitech International S.A. (NASDAQ:LOGI)

Russell Investments Group Ltd. lowered its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 17.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,138 shares of the technology company's stock after selling 93,282 shares during the quarter. Russell Investments Group Ltd. owned 0.27% of Logitech International worth $35,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LOGI. PNC Financial Services Group Inc. increased its position in shares of 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 valued at $458,000 after purchasing an additional 127 shares during the last quarter. Tealwood Asset Management Inc. increased its holdings in Logitech International by 1.2% during the 4th 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 period. EverSource Wealth Advisors LLC raised its position in shares of Logitech International by 16.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company's stock worth $123,000 after buying an additional 213 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Logitech International by 7.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company's stock valued at $267,000 after acquiring an additional 230 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Logitech International by 56.0% in the fourth 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. Hedge funds and other institutional investors own 45.76% of the company's stock.

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Logitech International Price Performance

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

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its earnings results 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%. On average, equities analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has approved a share 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 reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value 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. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup lifted their price target on Logitech International from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Logitech International from $99.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and cut their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Wedbush upgraded shares of Logitech International from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $100.00 to $125.00 in a report on Friday, March 7th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $97.71.

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.