HighTower Advisors LLC Sells 647 Shares of Logitech International S.A. (NASDAQ:LOGI)

HighTower Advisors LLC lessened its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 9.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,065 shares of the technology company’s stock after selling 647 shares during the quarter. HighTower Advisors LLC’s holdings in Logitech International were worth $499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sierra Ocean LLC purchased a new position in Logitech International during the fourth quarter valued at approximately $27,000. Exane Asset Management purchased a new position in shares of Logitech International during the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after purchasing an additional 233 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Logitech International in the third quarter worth $105,000. Finally, Global Retirement Partners LLC raised its position in shares of Logitech International by 109.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock worth $99,000 after buying an additional 631 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

Logitech International Stock Performance

LOGI stock opened at $86.95 on Monday. The company has a market capitalization of $13.75 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a one year low of $74.72 and a one year high of $105.65. The company’s 50 day moving average price is $96.14 and its two-hundred day moving average price is $88.16.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping 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%. On average, research analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LOGI. Citigroup upped their target price on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Bank of America restated an “underperform” rating and issued a $90.00 price objective (down from $105.00) on shares of Logitech International in a research report on Friday, February 28th. Barclays lifted their target price on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $100.00 to $125.00 in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Logitech International has a consensus rating of “Hold” and an average price target of $100.14.

Insider Transactions at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the firm’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 value of $28,980.00. Following the transaction, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.