Wellington Management Group LLP Purchases 33,742 Shares of Logitech International S.A. (NASDAQ:LOGI)

Wellington Management Group LLP lifted its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 354.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,250 shares of the technology company’s stock after purchasing an additional 33,742 shares during the period. Wellington Management Group LLP’s holdings in Logitech International were worth $4,099,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Logitech International in the 4th quarter worth approximately $33,000. Blue Trust Inc. grew its stake in Logitech International by 65.6% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares during the period. National Bank of Canada FI raised its stake in shares of Logitech International by 529.4% during the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock worth $40,000 after purchasing an additional 360 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Logitech International in the 4th quarter worth about $46,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Logitech International during the fourth quarter valued at about $104,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Logitech International news, CFO Charles D. Boynton acquired 1,225 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the transaction, the chief financial officer now owns 1,225 shares of the company’s stock, valued at approximately $99,555.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

LOGI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut shares of Logitech International from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $85.00 in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Logitech International in a report on Tuesday, April 16th. Morgan Stanley restated an “underweight” rating and issued a $75.00 target price (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Berenberg Bank assumed coverage on Logitech International in a research note on Thursday, March 14th. They set a “buy” rating and a $111.00 price target for the company. Finally, Citigroup boosted their price objective on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus target price of $91.00.

Logitech International Stock Up 0.6 %

LOGI stock opened at $96.88 on Friday. The stock has a 50-day simple moving average of $91.83 and a two-hundred day simple moving average of $90.22. Logitech International S.A. has a twelve month low of $57.77 and a twelve month high of $102.59. The firm has a market capitalization of $15.32 billion, a PE ratio of 25.03, a PEG ratio of 2.97 and a beta of 0.82.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $956.85 million. On average, equities research analysts anticipate that Logitech International S.A. will post 3.85 EPS for the current fiscal year.

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.