Jupiter Asset Management Ltd. Sells 144,778 Shares of Logitech International S.A. (NASDAQ:LOGI)

Jupiter Asset Management Ltd. lessened its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 23.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 470,454 shares of the technology company’s stock after selling 144,778 shares during the period. Jupiter Asset Management Ltd. owned 0.30% of Logitech International worth $38,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sierra Ocean LLC bought a new position in shares of Logitech International during the 4th quarter valued at about $27,000. Exane Asset Management bought a new position in shares of Logitech International during the 4th quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $53,000 after purchasing an additional 233 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Logitech International by 109.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock valued at $99,000 after purchasing an additional 631 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted 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 valued at $104,000 after purchasing an additional 1,153 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LOGI shares. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Barclays upped their target price on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and upped their target price for the company from $100.00 to $125.00 in a research report on Friday, March 7th. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Bank of America reissued an “underperform” rating and issued a $90.00 price objective (down from $105.00) on shares of Logitech International in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.50.

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’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 value 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. This trade represents 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 available at the SEC website. Insiders own 0.16% of the company’s stock.

Logitech International Stock Performance

NASDAQ LOGI opened at $92.19 on Wednesday. The firm’s 50 day moving average price is $95.01 and its 200-day moving average price is $87.96. Logitech International S.A. has a 52-week low of $74.72 and a 52-week high of $105.65. The company has a market cap of $14.58 billion, a PE ratio of 21.64, a P/E/G ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data 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 net margin of 14.38% and a return on equity of 30.53%. On average, analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal 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 shares. This repurchase authorization permits the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.