EverSource Wealth Advisors LLC Increases Position in Logitech International S.A. (NASDAQ:LOGI)

EverSource Wealth Advisors LLC increased its holdings in Logitech International S.A. (NASDAQ:LOGI) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,494 shares of the technology company’s stock after acquiring an additional 213 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Logitech International were worth $123,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its stake in shares of Logitech International by 21.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,776 shares of the technology company’s stock valued at $229,000 after buying an additional 484 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Logitech International by 6.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock valued at $215,127,000 after acquiring an additional 146,338 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after acquiring an additional 127 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of 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 during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Logitech International in the 4th quarter valued at about $4,162,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LOGI shares. Barclays boosted their price objective on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Bank of America reissued an “underperform” rating and set a $90.00 price target (down from $105.00) on shares of Logitech International in a research report on Friday, February 28th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $100.14.

Logitech International Stock Up 0.6 %

Logitech International stock opened at $90.20 on Tuesday. Logitech International S.A. has a 52-week low of $74.72 and a 52-week high of $105.65. The firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 2.61 and a beta of 0.73. The firm has a 50-day moving average price of $95.53 and a two-hundred day moving average price of $87.94.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Research analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its board has approved a share buyback 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 typically a sign that the company’s board of directors believes its shares are undervalued.

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.