Edmond DE Rothschild Holding S.A. Decreases Position in Logitech International S.A. (NASDAQ:LOGI)

Edmond DE Rothschild Holding S.A. decreased its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,020 shares of the technology company’s stock after selling 3,601 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Logitech International were worth $913,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Logitech International by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 150,393 shares of the technology company’s stock valued at $12,453,000 after purchasing an additional 14,497 shares during the last quarter. Allianz SE bought a new position in shares of Logitech International during the fourth quarter valued at $72,000. Orion Portfolio Solutions LLC boosted its position in shares of Logitech International by 10.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 6,094 shares of the technology company’s stock valued at $502,000 after buying an additional 560 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Logitech International by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company’s stock worth $188,254,000 after buying an additional 266,167 shares in the last quarter. Finally, Norges Bank purchased a new position in Logitech International in the 4th quarter worth about $156,888,000. Institutional investors own 45.76% of the company’s stock.

Logitech International Stock Up 0.7 %

Shares of LOGI opened at $85.02 on Wednesday. The business has a 50-day simple moving average of $95.98 and a two-hundred day simple moving average of $88.15. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $105.65. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

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

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LOGI. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. JPMorgan Chase & Co. increased their price target on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Citigroup lifted their price objective on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays upped their price objective on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and a consensus target price of $100.14.

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.