PNC Financial Services Group Inc. Has $458,000 Stake in Logitech International S.A. (NASDAQ:LOGI)

PNC Financial Services Group Inc. boosted its holdings in Logitech International S.A. (NASDAQ:LOGI) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,556 shares of the technology company’s stock after purchasing an additional 127 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Logitech International were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Logitech International by 2,315.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after acquiring an additional 1,385,493 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock worth $402,802,000 after acquiring an additional 1,240,478 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Logitech International by 700.1% during 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 acquiring an additional 655,025 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Logitech International during the 3rd quarter worth approximately $15,891,000. 45.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LOGI shares. JPMorgan Chase & Co. boosted their target price 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. Barclays boosted their price target on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $100.14.

Logitech International Stock Up 0.9 %

Logitech International stock opened at $91.40 on Thursday. The company has a market capitalization of $14.45 billion, a PE ratio of 21.46, a PEG ratio of 2.61 and a beta of 0.73. The firm’s fifty day moving average is $95.69 and its 200 day moving average is $87.96. Logitech International S.A. has a 12-month low of $74.72 and a 12-month high of $105.65.

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

Logitech International announced that its Board of Directors has approved a share buyback plan on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction 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. The trade was a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

About Logitech International

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.