Allspring Global Investments Holdings LLC Lowers Holdings in Logitech International S.A. (NASDAQ:LOGI)

Allspring Global Investments Holdings LLC trimmed its holdings in Logitech International S.A. (NASDAQ:LOGI) by 22.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,168 shares of the technology company’s stock after selling 2,074 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Logitech International were worth $593,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Exane Asset Management purchased a new position in shares of Logitech International during the fourth quarter worth $32,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Logitech International by 56.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock worth $53,000 after buying an additional 233 shares during the period. Transamerica Financial Advisors Inc. boosted its position in shares of Logitech International by 115,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after buying an additional 1,153 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Logitech International during the third quarter worth $105,000. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Logitech International during the fourth quarter worth $202,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Price Performance

Logitech International stock opened at $103.38 on Tuesday. Logitech International S.A. has a 1-year low of $74.72 and a 1-year high of $105.65. The stock has a market cap of $16.35 billion, a PE ratio of 24.27, a P/E/G ratio of 2.61 and a beta of 0.78. The stock’s fifty day moving average is $91.58 and its two-hundred day moving average is $87.30.

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

Insider Transactions at Logitech International

In other 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 transaction of $28,980.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on LOGI shares. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their price objective on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Citigroup increased their price objective on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Logitech International currently has an average rating of “Hold” and a consensus target price of $97.13.

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.