Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lowered its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 45.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,569 shares of the technology company’s stock after selling 37,027 shares during the quarter. Quantbot Technologies LP’s holdings in Logitech International were worth $3,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Global Investments grew its position in shares of Logitech International by 119.7% in the 4th quarter. Summit Global Investments now owns 31,809 shares of the technology company’s stock valued at $2,619,000 after buying an additional 17,328 shares during the last quarter. Semanteon Capital Management LP lifted its holdings in shares of Logitech International by 54.8% in the 4th quarter. Semanteon Capital Management LP now owns 13,179 shares of the technology company’s stock valued at $1,085,000 after purchasing an additional 4,664 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Logitech International in the 4th quarter valued at about $4,949,000. Signaturefd LLC grew its stake in Logitech International by 4.5% during the 4th quarter. Signaturefd LLC now owns 7,033 shares of the technology company’s stock worth $579,000 after buying an additional 302 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Logitech International by 7.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company’s stock worth $267,000 after buying an additional 230 shares during the period. 45.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. 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 research report on Wednesday, January 29th. Bank of America reaffirmed an “underperform” rating and issued a $90.00 target price (down from $105.00) on shares of Logitech International in a report on Friday, February 28th. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Finally, Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $100.00 to $125.00 in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and an average price target of $100.14.

Logitech International Trading Down 1.0 %

NASDAQ LOGI opened at $89.97 on Friday. The business’s 50 day moving average is $95.86 and its two-hundred day moving average is $87.97. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 12-month low of $74.72 and a 12-month high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data 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%. Equities analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has authorized a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.