LGT Group Foundation Cuts Stock Position in Logitech International S.A. (NASDAQ:LOGI)

LGT Group Foundation trimmed its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 461,242 shares of the technology company’s stock after selling 36,695 shares during the period. Logitech International accounts for about 1.0% of LGT Group Foundation’s holdings, making the stock its 26th biggest holding. LGT Group Foundation’s holdings in Logitech International were worth $43,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Logitech International by 65.6% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares during the period. Allworth Financial LP increased its position in Logitech International by 249.1% in the third quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock worth $52,000 after buying an additional 538 shares during the period. CWM LLC lifted its stake in Logitech International by 16.9% in the third quarter. CWM LLC now owns 1,127 shares of the technology company’s stock valued at $78,000 after buying an additional 163 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Logitech International during the fourth quarter valued at $104,000. Finally, Yousif Capital Management LLC bought a new position in shares of Logitech International during the third quarter worth about $200,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $92.00 price objective on shares of Logitech International in a research report on Tuesday. Morgan Stanley reiterated an “underweight” rating and set a $75.00 price objective (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. JPMorgan Chase & Co. cut Logitech International from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $92.00 to $85.00 in a research report on Wednesday. Berenberg Bank started coverage on Logitech International in a research report on Thursday, March 14th. They set a “buy” rating and a $111.00 price target for the company. Finally, StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Logitech International has an average rating of “Hold” and an average price target of $91.00.

Insiders Place Their Bets

In other news, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the sale, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Prakash Arunkundrum sold 23,023 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the sale, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at $5,495,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,572 shares of company stock worth $2,207,555. 0.15% of the stock is owned by insiders.

Logitech International Price Performance

Shares of Logitech International stock traded up $2.59 during trading on Thursday, hitting $81.60. The stock had a trading volume of 276,208 shares, compared to its average volume of 473,259. The business has a fifty day moving average of $86.66 and a two-hundred day moving average of $86.49. The firm has a market cap of $12.91 billion, a P/E ratio of 20.42, a PEG ratio of 1.63 and a beta of 0.78. Logitech International S.A. has a fifty-two week low of $53.91 and a fifty-two week high of $96.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.68%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. As a group, research analysts forecast that Logitech International S.A. will post 3.67 earnings per share for the current year.

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.