Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Amundi

Amundi reduced its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 856,395 shares of the technology company’s stock after selling 42,279 shares during the period. Amundi’s holdings in Logitech International were worth $74,489,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in Logitech International by 2.3% in 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Logitech International by 700.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after purchasing an additional 655,025 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Logitech International in the 4th quarter worth about $4,162,000. Assetmark Inc. increased its stake in Logitech International by 3.9% in the 4th quarter. Assetmark Inc. now owns 51,157 shares of the technology company’s stock worth $4,213,000 after purchasing an additional 1,926 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Logitech International by 27.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,614 shares of the technology company’s stock worth $1,698,000 after purchasing an additional 4,403 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insider Activity

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the completion of the sale, the insider now directly owns 7,348 shares in the company, valued at $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 can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Logitech International Price Performance

Shares of Logitech International stock opened at $92.19 on Wednesday. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 52-week low of $74.72 and a 52-week high of $105.65. The stock has a 50-day simple moving average of $95.01 and a 200-day simple moving average of $87.96.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of analyst reports. Citigroup lifted their price target on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Bank of America reaffirmed an “underperform” rating and set a $90.00 target price (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.50.

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.