Logitech International S.A. (NASDAQ:LOGI) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in Logitech International S.A. (NASDAQ:LOGI) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,243 shares of the technology company’s stock after acquiring an additional 230 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Logitech International were worth $267,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Logitech International by 34.2% in the fourth 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Logitech International by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock worth $215,127,000 after acquiring an additional 146,338 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after acquiring an additional 1,385,493 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Logitech International by 1.8% in the third 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 period. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Price Performance

NASDAQ LOGI opened at $88.60 on Friday. The company has a fifty day moving average of $96.15 and a two-hundred day moving average of $88.10. The company has a market capitalization of $14.01 billion, a PE ratio of 20.80, a P/E/G ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, 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 authorized a stock repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Logitech International

In related news, insider Samantha Harnett sold 300 shares of the stock in a transaction 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 completion of the sale, the insider now owns 7,348 shares in the company, valued at $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LOGI. Citigroup increased their price target 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 raised shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $73.00 to $92.00 in a 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. Finally, Bank of America reiterated an “underperform” rating and set a $90.00 target price (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $100.14.

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.