Invesco Ltd. Sells 15,915 Shares of Logitech International S.A. (NASDAQ:LOGI)

Invesco Ltd. cut its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 674,597 shares of the technology company’s stock after selling 15,915 shares during the quarter. Invesco Ltd.’s holdings in Logitech International were worth $55,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LOGI. Barclays PLC grew its holdings in shares of Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after purchasing an additional 1,967,133 shares during the last quarter. Norges Bank bought a new stake in Logitech International during the 4th quarter worth approximately $156,888,000. Assenagon Asset Management S.A. grew its holdings in Logitech International by 2,315.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after acquiring an additional 1,385,493 shares during the last quarter. Vontobel Holding Ltd. increased its position in Logitech International by 34.2% in the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after acquiring an additional 1,240,478 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Logitech International by 700.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock valued at $61,978,000 after acquiring an additional 655,025 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Down 0.9 %

NASDAQ:LOGI opened at $72.79 on Wednesday. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65. The company has a fifty day moving average of $90.35 and a 200-day moving average of $86.89. The firm has a market capitalization of $11.51 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.61 and a beta of 0.97.

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 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%. On average, analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LOGI. Wedbush raised shares of Logitech International from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Barclays upped their price target on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $93.43.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction on 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 sale, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.