Banco Santander S.A. Sells 1,470 Shares of Logitech International S.A. (NASDAQ:LOGI)

Banco Santander S.A. cut its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 27.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,931 shares of the technology company’s stock after selling 1,470 shares during the period. Banco Santander S.A.’s holdings in Logitech International were worth $324,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LOGI. Investment Management Corp of Ontario boosted its position in shares of Logitech International by 0.4% during 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 during the period. Tealwood Asset Management Inc. lifted its stake in shares of Logitech International by 1.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after acquiring an additional 175 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Logitech International by 3.0% during the 3rd quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company’s stock valued at $685,000 after acquiring an additional 225 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Logitech International by 56.0% during 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 during the period. Finally, IFP Advisors Inc grew its position in Logitech International by 6.9% in the 4th quarter. IFP Advisors Inc now owns 3,790 shares of the technology company’s stock valued at $312,000 after acquiring an additional 246 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.

Logitech International Stock Down 3.7 %

Shares of NASDAQ:LOGI opened at $94.07 on Tuesday. The firm has a 50 day moving average of $94.81 and a 200 day moving average of $87.96. The company has a market capitalization 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. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI) last released its quarterly 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 return on equity of 30.53% and a net margin of 14.38%. On average, sell-side analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in 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 leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the transaction, the insider now owns 7,348 shares of the company’s stock, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on LOGI shares. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Citigroup increased their price objective on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Logitech International has a consensus rating of “Hold” and an average target price of $101.50.

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.