Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its stake in Logitech International S.A. (NASDAQ:LOGI) by 13.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,570 shares of the technology company’s stock after selling 700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Logitech International were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LOGI. Empowered Funds LLC grew its stake in Logitech International by 10.6% in the 3rd quarter. Empowered Funds LLC now owns 23,765 shares of the technology company’s stock valued at $2,132,000 after acquiring an additional 2,283 shares during the period. Strengthening Families & Communities LLC grew its stake in Logitech International by 9.2% in the 3rd quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock valued at $404,000 after acquiring an additional 378 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Logitech International in the 3rd quarter valued at $2,372,000. Banco Santander S.A. acquired a new stake in Logitech International in the 3rd quarter valued at $485,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Logitech International by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock valued at $1,455,000 after acquiring an additional 1,206 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LOGI. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price objective on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Bank of America restated an “underperform” rating and issued a $90.00 price objective (down previously from $105.00) on shares of Logitech International in a report on Friday, February 28th. Finally, Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $100.00 to $125.00 in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.14.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 300 shares of the business’s 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 sale, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.

Logitech International Stock Up 0.7 %

NASDAQ LOGI opened at $89.62 on Monday. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $105.65. The business’s fifty day simple moving average is $95.46 and its 200-day simple moving average is $87.94. The firm has a market cap of $14.17 billion, a PE ratio of 21.04, a P/E/G ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Research analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.