Charles Schwab Investment Management Inc. Raises Stake in Logitech International S.A. (NASDAQ:LOGI)

Charles Schwab Investment Management Inc. raised its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 27.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,614 shares of the technology company’s stock after purchasing an additional 4,403 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Logitech International were worth $1,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its position in shares of Logitech International by 4,876.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock worth $13,798,000 after buying an additional 164,185 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Logitech International by 5.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company’s stock valued at $28,913,000 after purchasing an additional 18,986 shares during the last quarter. US Bancorp DE boosted its position in Logitech International by 5.6% in the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock worth $687,000 after purchasing an additional 446 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Logitech International during the third quarter valued at $12,597,000. Finally, Barclays PLC increased its stake in shares of Logitech International by 64.2% in 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 in the last quarter. 45.76% of the stock is currently owned by institutional investors.

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 that occurred 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 transaction, the insider now owns 7,348 shares in the company, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on LOGI shares. Citigroup increased their price objective on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barclays upped their target price on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Bank of America reaffirmed an “underperform” rating and set a $90.00 target price (down from $105.00) on shares of Logitech International in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Logitech International currently has a consensus rating of “Hold” and an average price target of $100.14.

Logitech International Stock Down 1.9 %

LOGI opened at $86.95 on Friday. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $105.65. The business has a fifty day simple moving average of $96.14 and a 200-day simple moving average of $88.14. The firm has a market cap of $13.75 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last announced its 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 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 year.

Logitech International declared that its board has initiated a stock buyback program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.