Sequoia Financial Advisors LLC Has $229,000 Stake in Logitech International S.A. (NASDAQ:LOGI)

Sequoia Financial Advisors LLC raised its position in Logitech International S.A. (NASDAQ:LOGI) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,776 shares of the technology company’s stock after acquiring an additional 484 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Logitech International were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new position in Logitech International during the fourth quarter worth about $27,000. Exane Asset Management acquired a new stake in shares of Logitech International in the fourth quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock worth $53,000 after acquiring an additional 233 shares during the period. Transamerica Financial Advisors Inc. increased its holdings in shares of Logitech International by 115,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,153 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Logitech International in the 3rd quarter valued at $105,000. Institutional investors own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LOGI has been the topic of several research analyst reports. Wedbush raised shares of 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 research report on Friday, March 7th. Barclays raised their price objective on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley raised 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, JPMorgan Chase & Co. upped their price objective on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus target price of $100.14.

Logitech International Stock Performance

LOGI opened at $90.87 on Friday. The firm has a market cap of $14.37 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. The business’s fifty day moving average is $95.77 and its 200-day moving average is $87.98. 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 earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating 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%. On average, research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has authorized a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was 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 owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.