Banco Santander S.A. Reduces Holdings in Logitech International S.A. (NASDAQ:LOGI)

Banco Santander S.A. trimmed its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,931 shares of the technology company’s stock after selling 1,470 shares during the quarter. Banco Santander S.A.’s holdings in Logitech International were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after acquiring an additional 1,967,133 shares during the period. Assenagon Asset Management S.A. lifted its position in Logitech International by 2,315.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after purchasing an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after purchasing an additional 1,240,478 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after buying an additional 655,025 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Logitech International in the third quarter worth about $15,891,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LOGI shares. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Barclays upped their price target on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Bank of America restated an “underperform” rating and set a $90.00 price objective (down from $105.00) on shares of Logitech International in a research report on Friday, February 28th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Logitech International presently has a consensus rating of “Hold” and an average target price of $101.50.

Logitech International Price Performance

NASDAQ:LOGI opened at $94.07 on Tuesday. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $105.65. The stock’s 50 day simple moving average is $94.81 and its two-hundred day simple moving average is $87.96.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate 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, analysts anticipate 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 program on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Logitech International 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 transaction of $28,980.00. Following the sale, the insider now directly owns 7,348 shares of the company’s stock, valued at $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

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.