Alpha Omega Wealth Management LLC Sells 21,962 Shares of Logitech International S.A. (NASDAQ:LOGI)

Alpha Omega Wealth Management LLC trimmed its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 72.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,535 shares of the technology company’s stock after selling 21,962 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Logitech International were worth $811,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after acquiring an additional 760,263 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Logitech International by 44.7% in the fourth quarter. Mackenzie Financial Corp now owns 8,828 shares of the technology company’s stock worth $836,000 after purchasing an additional 2,726 shares during the last quarter. Beverly Hills Private Wealth LLC bought a new stake in shares of Logitech International in the fourth quarter worth $211,000. Vontobel Holding Ltd. increased its holdings in Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after purchasing an additional 121,060 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Logitech International by 7.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 469,494 shares of the technology company’s stock worth $44,622,000 after purchasing an additional 32,396 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Performance

Logitech International stock traded down $0.69 during mid-day trading on Wednesday, reaching $79.00. The stock had a trading volume of 390,850 shares, compared to its average volume of 446,600. The firm has a market capitalization of $12.49 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 1.67 and a beta of 0.74. Logitech International S.A. has a fifty-two week low of $53.91 and a fifty-two week high of $96.66. The stock’s 50-day simple moving average is $88.24 and its 200-day simple moving average is $85.98.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.43. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. On average, research analysts forecast that Logitech International S.A. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on LOGI. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Logitech International in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating and set a $75.00 target price (down previously from $85.00) on shares of Logitech International in a research report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $92.00 price objective on shares of Logitech International in a research note on Monday, March 18th. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. Finally, Citigroup boosted their price target on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $92.43.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares in the company, valued at $1,002,464.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Prakash Arunkundrum sold 699 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the transaction, the chief operating officer now owns 67,848 shares in the company, valued at $6,106,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,572 shares of company stock valued at $2,207,555. Corporate insiders own 0.15% of the company’s stock.

Logitech International Company 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.