HighTower Advisors LLC Lowers Stock Position in Logitech International S.A. (NASDAQ:LOGI)

HighTower Advisors LLC cut its holdings in Logitech International S.A. (NASDAQ:LOGI) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,065 shares of the technology company’s stock after selling 647 shares during the quarter. HighTower Advisors LLC’s holdings in Logitech International were worth $499,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LOGI. Charles Schwab Investment Management Inc. grew its holdings in Logitech International by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock worth $1,455,000 after purchasing an additional 1,206 shares during the period. Cerity Partners LLC boosted its position in shares of Logitech International by 63.4% in the 3rd quarter. Cerity Partners LLC now owns 5,125 shares of the technology company’s stock worth $460,000 after purchasing an additional 1,989 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Logitech International by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 67,199 shares of the technology company’s stock worth $6,041,000 after buying an additional 392 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Logitech International by 3.0% in the 3rd quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company’s stock worth $685,000 after buying an additional 225 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Logitech International by 23.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 80,790 shares of the technology company’s stock valued at $7,237,000 after buying an additional 15,340 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $125.00 in a report on Friday, March 7th. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on shares of Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Finally, Bank of America reiterated an “underperform” rating and set a $90.00 price target (down previously from $105.00) on shares of Logitech International in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Logitech International presently has an average rating of “Hold” and an average target price of $100.14.

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Logitech International Stock Performance

LOGI opened at $86.95 on Monday. The company’s 50-day simple moving average is $96.14 and its two-hundred day simple moving average is $88.16. Logitech International S.A. has a 52-week low of $74.72 and a 52-week high of $105.65. The stock has a market capitalization of $13.75 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data 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 net margin of 14.38% and a return on equity of 30.53%. Research analysts forecast that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is 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.