Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 17.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,138 shares of the technology company’s stock after selling 93,282 shares during the quarter. Russell Investments Group Ltd.’s holdings in Logitech International were worth $35,864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LOGI. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Logitech International during the fourth quarter valued at $49,000. Prudential PLC grew its stake in Logitech International by 3.2% during the 4th quarter. Prudential PLC now owns 34,991 shares of the technology company’s stock valued at $2,893,000 after purchasing an additional 1,070 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in Logitech International by 40.9% during the 4th quarter. Landscape Capital Management L.L.C. now owns 37,256 shares of the technology company’s stock valued at $3,068,000 after purchasing an additional 10,817 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Logitech International in the fourth quarter valued at about $5,001,000. Finally, Geode Capital Management LLC raised its stake in shares of Logitech International by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 130,019 shares of the technology company’s stock worth $10,707,000 after purchasing an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Down 1.6 %

NASDAQ:LOGI opened at $68.17 on Tuesday. Logitech International S.A. has a 52 week low of $65.00 and a 52 week high of $105.65. The stock’s 50-day moving average price is $94.62 and its 200-day moving average price is $87.79. The stock has a market capitalization of $10.78 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 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%. Sell-side analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related 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 value of $28,980.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LOGI has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $97.71.

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.