Wellington Management Group LLP Raises Position in Logitech International S.A. (NASDAQ:LOGI)

Wellington Management Group LLP raised its holdings in Logitech International S.A. (NASDAQ:LOGI) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,393 shares of the technology company’s stock after buying an additional 14,497 shares during the period. Wellington Management Group LLP’s holdings in Logitech International were worth $12,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOGI. Allianz SE acquired a new stake in shares of Logitech International in the 4th quarter valued at $72,000. Orion Portfolio Solutions LLC raised its holdings in shares of Logitech International by 10.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,094 shares of the technology company’s stock valued at $502,000 after purchasing an additional 560 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Logitech International by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company’s stock valued at $188,254,000 after purchasing an additional 266,167 shares in the last quarter. Norges Bank acquired a new stake in shares of Logitech International in the 4th quarter valued at $156,888,000. Finally, Korea Investment CORP raised its holdings in shares of Logitech International by 74.6% in the 4th quarter. Korea Investment CORP now owns 83,839 shares of the technology company’s stock valued at $6,942,000 after purchasing an additional 35,814 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analyst Upgrades and Downgrades

LOGI has been the topic of a number of analyst reports. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Citigroup lifted their price target on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.71.

Logitech International Stock Performance

Shares of Logitech International stock opened at $74.20 on Thursday. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65. The company has a market capitalization of $11.73 billion, a P/E ratio of 17.42, a PEG ratio of 2.61 and a beta of 0.97. The company’s fifty day moving average is $92.48 and its two-hundred day moving average is $87.31.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (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%. As a group, equities 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 buyback plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.