Russell Investments Group Ltd. Sells 93,282 Shares of Logitech International S.A. (NASDAQ:LOGI)

Russell Investments Group Ltd. trimmed its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 433,138 shares of the technology company’s stock after selling 93,282 shares during the quarter. Russell Investments Group Ltd. owned 0.27% of Logitech International worth $35,864,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Logitech International during the 4th quarter worth about $49,000. Prudential PLC boosted its position in shares of Logitech International by 3.2% during the fourth quarter. Prudential PLC now owns 34,991 shares of the technology company’s stock valued at $2,893,000 after buying an additional 1,070 shares during the period. Landscape Capital Management L.L.C. grew its stake in shares of Logitech International by 40.9% during the fourth quarter. Landscape Capital Management L.L.C. now owns 37,256 shares of the technology company’s stock valued at $3,068,000 after buying an additional 10,817 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Logitech International in the fourth quarter worth approximately $5,001,000. Finally, Geode Capital Management LLC lifted its stake in shares of Logitech International by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 130,019 shares of the technology company’s stock worth $10,707,000 after acquiring an additional 1,140 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Insider Buying and Selling

In other Logitech International news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction 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 directly owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $73.00 to $92.00 in a research note 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. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $90.00 to $73.00 in a research note on Friday. Barclays lifted their price target 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. 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. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Logitech International currently has an average rating of “Hold” and a consensus target price of $97.71.

Logitech International Trading Down 1.6 %

Shares of NASDAQ LOGI opened at $68.17 on Tuesday. The stock has a market capitalization of $10.78 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a 12-month low of $65.00 and a 12-month high of $105.65. The stock’s fifty day simple moving average is $94.62 and its two-hundred day simple moving average is $87.79.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, equities analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors 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.