Russell Investments Group Ltd. Grows Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Russell Investments Group Ltd. lifted its stake in Logitech International S.A. (NASDAQ:LOGI) by 574.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 296,210 shares of the technology company’s stock after buying an additional 252,299 shares during the period. Russell Investments Group Ltd.’s holdings in Logitech International were worth $28,012,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. raised its position in Logitech International by 65.6% during the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares during the last quarter. Allworth Financial LP raised its position in Logitech International by 249.1% during the 3rd quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock valued at $52,000 after purchasing an additional 538 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Logitech International during the 4th quarter valued at approximately $104,000. CWM LLC raised its position in Logitech International by 16.9% during the 3rd quarter. CWM LLC now owns 1,127 shares of the technology company’s stock valued at $78,000 after purchasing an additional 163 shares during the last quarter. Finally, Claro Advisors LLC bought a new position in Logitech International during the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Performance

LOGI stock opened at $79.01 on Thursday. Logitech International S.A. has a fifty-two week low of $53.91 and a fifty-two week high of $96.66. The business’s 50 day moving average price is $86.82 and its two-hundred day moving average price is $86.55. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.63 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. Logitech International had a return on equity of 27.68% and a net margin of 14.24%. Sell-side analysts forecast that Logitech International S.A. will post 3.67 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total value of $62,910.00. Following the completion of the sale, the chief operating officer now owns 67,848 shares in the company, valued at approximately $6,106,320. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $2,207,555 in the last 90 days. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LOGI shares. Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 price target (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. JPMorgan Chase & Co. lowered Logitech International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $85.00 in a research report on Wednesday. Berenberg Bank started coverage on Logitech International in a research report on Thursday, March 14th. They set a “buy” rating and a $111.00 price target for the company. Wedbush reiterated a “neutral” rating and set a $92.00 target price on shares of Logitech International in a report on Tuesday. Finally, Barclays upped their target price on Logitech International from $96.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $91.00.

Logitech International Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.