877 Shares in Logitech International S.A. (NASDAQ:LOGI) Bought by Allianz SE

Allianz SE purchased a new stake in Logitech International S.A. (NASDAQ:LOGI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 877 shares of the technology company’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Orion Portfolio Solutions LLC raised its holdings in Logitech International by 10.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,094 shares of the technology company’s stock valued at $502,000 after acquiring an additional 560 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Logitech International by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company’s stock valued at $188,254,000 after purchasing an additional 266,167 shares during the last quarter. Norges Bank acquired a new stake in shares of Logitech International in the 4th quarter valued at $156,888,000. Korea Investment CORP lifted its position in shares of Logitech International by 74.6% during the 4th quarter. Korea Investment CORP now owns 83,839 shares of the technology company’s stock worth $6,942,000 after purchasing an additional 35,814 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Logitech International by 18.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 92,697 shares of the technology company’s stock worth $7,700,000 after purchasing an additional 14,657 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LOGI shares. Bank of America restated an “underperform” rating and issued a $90.00 price target (down from $105.00) on shares of Logitech International in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Citigroup raised their price objective on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays upped their target price 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. One 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.14.

Logitech International Price Performance

Shares of Logitech International stock opened at $84.41 on Tuesday. The firm’s fifty day simple moving average is $96.09 and its 200-day simple moving average is $88.16. Logitech International S.A. has a 12 month low of $74.72 and a 12 month high of $105.65. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data 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 anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its Board of Directors has initiated a stock repurchase 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 repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction that occurred 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 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 this hyperlink. 0.16% of the stock is 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.