Andra AP fonden Sells 87,009 Shares of Logitech International S.A. (NASDAQ:LOGI)

Andra AP fonden lowered its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 32.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,227 shares of the technology company’s stock after selling 87,009 shares during the quarter. Andra AP fonden’s holdings in Logitech International were worth $13,299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after acquiring an additional 1,967,133 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock worth $402,802,000 after acquiring an additional 1,240,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Logitech International by 3.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company’s stock worth $219,611,000 after acquiring an additional 89,788 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Logitech International by 2,315.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after acquiring an additional 1,385,493 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Logitech International by 1.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,097,951 shares of the technology company’s stock valued at $98,348,000 after purchasing an additional 19,046 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $97.67 on Friday. The company has a market capitalization of $15.45 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 2.61 and a beta of 0.73. The firm’s 50 day simple moving average is $94.30 and its 200 day simple moving average is $87.96. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its earnings results 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 net margin of 14.38% and a return on equity of 30.53%. Equities research analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group raised shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Bank of America reaffirmed an “underperform” rating and issued a $90.00 target price (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Barclays raised their target price on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Logitech International currently has an average rating of “Hold” and an average target price of $101.50.

Insiders Place Their Bets

In other Logitech International 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 transaction of $28,980.00. Following the sale, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

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.