Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Logitech International S.A. (NASDAQ:LOGI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 36.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,822,286 shares of the technology company's stock after buying an additional 760,263 shares during the quarter. Logitech International makes up about 1.0% of Zurcher Kantonalbank Zurich Cantonalbank's holdings, making the stock its 14th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank owned about 1.78% of Logitech International worth $267,457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC bought a new stake in Logitech International during the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Logitech International by 233.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 551 shares of the technology company's stock valued at $34,000 after buying an additional 386 shares during the last quarter. Blue Trust Inc. raised its holdings in Logitech International by 65.6% during the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company's stock valued at $40,000 after buying an additional 168 shares during the last quarter. Allworth Financial LP raised its holdings in Logitech International by 249.1% during the 3rd quarter. Allworth Financial LP now owns 754 shares of the technology company's stock valued at $52,000 after buying an additional 538 shares during the last quarter. Finally, GHP Investment Advisors Inc. bought a new stake in Logitech International during the 3rd quarter valued at $73,000. 45.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley reiterated an "underweight" rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a report on Monday. Berenberg Bank initiated coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a "buy" rating and a $111.00 price objective on the stock. Barclays boosted their price objective on shares of Logitech International from $96.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, January 24th. StockNews.com downgraded shares of Logitech International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Logitech International in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $92.43.

Insider Activity

In other news, insider Samantha Harnett sold 650 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the sale, the insider now owns 11,910 shares in the company, valued at $1,002,464.70. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, COO Prakash Arunkundrum sold 699 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $90.00, for a total value of $62,910.00. Following the completion of the sale, the chief operating officer now directly owns 67,848 shares of the company's stock, valued at $6,106,320. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samantha Harnett sold 650 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares of the company's stock, valued at $1,002,464.70. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $2,207,555 over the last 90 days. 0.15% of the stock is currently owned by insiders.

Logitech International Stock Down 1.9 %

Shares of NASDAQ:LOGI traded down $1.57 during midday trading on Tuesday, reaching $79.69. The company's stock had a trading volume of 1,005,598 shares, compared to its average volume of 447,854. The firm has a 50 day moving average of $88.24 and a 200-day moving average of $85.98. The firm has a market capitalization of $12.60 billion, a P/E ratio of 26.04, a PEG ratio of 1.79 and a beta of 0.74. Logitech International S.A. has a 12-month low of $53.91 and a 12-month high of $96.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.43. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.23 billion. On average, research analysts predict that Logitech International S.A. will post 3.44 EPS for the current year.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.