Envestnet Portfolio Solutions Inc. Boosts Stake in Logitech International S.A. (NASDAQ:LOGI)

Envestnet Portfolio Solutions Inc. boosted its holdings in Logitech International S.A. (NASDAQ:LOGI) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,243 shares of the technology company’s stock after acquiring an additional 230 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Logitech International were worth $267,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in shares of Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after purchasing an additional 127 shares during the period. Investment Management Corp of Ontario increased its holdings in Logitech International by 0.4% in the third quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after buying an additional 170 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in shares of Logitech International by 1.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock valued at $1,231,000 after acquiring an additional 175 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Logitech International by 16.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company’s stock worth $123,000 after acquiring an additional 213 shares in the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Logitech International by 3.0% in the 3rd quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company’s stock worth $685,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LOGI has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Bank of America restated an “underperform” rating and set a $90.00 target price (down previously from $105.00) on shares of Logitech International in a research report on Friday, February 28th. Finally, Wedbush raised shares of Logitech International from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Logitech International has a consensus rating of “Hold” and a consensus price target of $100.14.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $88.60 on Friday. The firm has a market cap of $14.01 billion, a P/E ratio of 20.80, a price-to-earnings-growth 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 firm’s 50 day moving average price is $96.15 and its 200 day moving average price is $88.10.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating 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%. As a group, equities analysts predict 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 buyback plan on Wednesday, March 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction that occurred 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 directly owns 7,348 shares in the company, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.