US Bancorp DE Buys 446 Shares of Logitech International S.A. (NASDAQ:LOGI)

US Bancorp DE lifted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,344 shares of the technology company’s stock after acquiring an additional 446 shares during the period. US Bancorp DE’s holdings in Logitech International were worth $687,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp of Ontario boosted its position in Logitech International by 0.4% in the third quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after buying an additional 170 shares in the last quarter. Tealwood Asset Management Inc. raised its position in shares of Logitech International by 1.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after purchasing an additional 175 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Logitech International by 3.0% in the third quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company’s stock valued at $685,000 after purchasing an additional 225 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Logitech International by 56.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after acquiring an additional 233 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Logitech International by 6.9% during the 4th quarter. IFP Advisors Inc now owns 3,790 shares of the technology company’s stock worth $312,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Analyst Ratings Changes

LOGI has been the topic of several research reports. Citigroup upped their target price on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Bank of America reissued an “underperform” rating and issued a $90.00 price target (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $73.00 to $92.00 in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.50.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares of the company’s stock, valued at $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Logitech International Trading Down 3.7 %

LOGI stock opened at $94.07 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 $14.88 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. The company’s 50 day moving average is $94.81 and its 200 day moving average is $87.96.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. As a group, sell-side analysts forecast that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its board has approved a stock buyback plan on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.