Invesco Ltd. Sells 15,915 Shares of Logitech International S.A. (NASDAQ:LOGI)

Invesco Ltd. lessened its position in Logitech International S.A. (NASDAQ:LOGI) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 674,597 shares of the technology company’s stock after selling 15,915 shares during the period. Invesco Ltd. owned approximately 0.43% of Logitech International worth $55,553,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Employees Retirement System of Texas boosted its position in shares of Logitech International by 89.2% during the fourth quarter. Employees Retirement System of Texas now owns 1,232 shares of the technology company’s stock worth $1,015,000 after buying an additional 581 shares during the period. Bank of Montreal Can grew its position in Logitech International by 116.0% in the fourth quarter. Bank of Montreal Can now owns 206,047 shares of the technology company’s stock valued at $17,034,000 after purchasing an additional 110,668 shares in the last quarter. Cerity Partners LLC increased its stake in Logitech International by 9.4% in the 4th quarter. Cerity Partners LLC now owns 5,608 shares of the technology company’s stock valued at $481,000 after buying an additional 483 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Logitech International by 12.9% during the 4th quarter. Quadrant Capital Group LLC now owns 4,708 shares of the technology company’s stock worth $388,000 after buying an additional 539 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Logitech International in the 4th quarter valued at about $49,000. 45.76% of the stock is owned by institutional investors.

Logitech International Stock Performance

LOGI opened at $72.79 on Wednesday. The company has a market capitalization of $11.51 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65. The stock has a fifty day moving average of $90.35 and a 200-day moving average of $86.89.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share 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, equities research 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 initiated a stock buyback plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business’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 completion of the transaction, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on LOGI. Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $100.00 to $125.00 in a report on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of Logitech International from $99.00 to $100.00 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 Logitech International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Finally, StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $93.43.

Logitech International 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.