Rhumbline Advisers Has $369,000 Holdings in Logitech International S.A. (NASDAQ:LOGI)

Rhumbline Advisers cut its stake in Logitech International S.A. (NASDAQ:LOGI) by 31.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,479 shares of the technology company’s stock after selling 2,050 shares during the period. Rhumbline Advisers’ holdings in Logitech International were worth $369,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings 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 in the last quarter. SpiderRock Advisors LLC bought a new stake in Logitech International during the 3rd quarter worth approximately $1,431,000. Assetmark Inc. grew its position in Logitech International by 6,766.2% during the 3rd quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock worth $4,418,000 after acquiring an additional 48,514 shares during the last quarter. Summit Global Investments bought a new stake in Logitech International during the 3rd quarter worth approximately $1,299,000. Finally, Strengthening Families & Communities LLC grew its position in Logitech International by 9.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock worth $404,000 after acquiring an additional 378 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on LOGI. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $100.00 to $125.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Citigroup increased their price target on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.50.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Logitech International Trading Up 1.2 %

Shares of Logitech International stock opened at $97.67 on Friday. The company has a market capitalization of $15.45 billion, a PE ratio of 22.93, a PEG ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 12 month low of $74.72 and a 12 month high of $105.65. The stock’s fifty day simple moving average is $94.58 and its 200 day simple moving average is $87.97.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Analysts predict 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 repurchase plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is 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.