Logitech International S.A. (NASDAQ:LOGI) Holdings Cut by LGT Group Foundation

LGT Group Foundation cut its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 461,242 shares of the technology company's stock after selling 36,695 shares during the period. Logitech International makes up approximately 1.0% of LGT Group Foundation's investment portfolio, making the stock its 26th largest position. LGT Group Foundation owned about 0.29% of Logitech International worth $43,453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in Logitech International by 65.6% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company's stock valued at $40,000 after purchasing an additional 168 shares during the period. Allworth Financial LP boosted its stake in Logitech International by 249.1% in the third quarter. Allworth Financial LP now owns 754 shares of the technology company's stock worth $52,000 after buying an additional 538 shares in the last quarter. CWM LLC lifted its position in Logitech International by 16.9% in the third quarter. CWM LLC now owns 1,127 shares of the technology company's stock valued at $78,000 after purchasing an additional 163 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Logitech International in the fourth quarter valued at approximately $104,000. Finally, Yousif Capital Management LLC bought a new position in shares of Logitech International during the third quarter valued at approximately $200,000. Institutional investors own 45.76% of the company's stock.

Analyst Upgrades and Downgrades

LOGI has been the topic of several recent analyst reports. StockNews.com cut Logitech International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 14th. Barclays raised their price target on Logitech International from $96.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Logitech International in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut Logitech International from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $92.00 to $85.00 in a report on Wednesday. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $75.00 price target (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $91.00.

Logitech International Price Performance

NASDAQ LOGI traded up $2.76 during trading hours on Thursday, hitting $81.77. The company had a trading volume of 772,861 shares, compared to its average volume of 479,988. Logitech International S.A. has a fifty-two week low of $53.91 and a fifty-two week high of $96.66. The firm's 50 day moving average is $86.66 and its 200 day moving average is $86.49. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.63 and a beta of 0.78.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.68%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $956.85 million. On average, equities analysts anticipate that Logitech International S.A. will post 3.67 EPS for the current year.

Insider Activity

In related news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction dated Thursday, February 8th. The shares were 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 owns 11,910 shares of the company's stock, valued at approximately $1,002,464.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Logitech International news, insider Samantha Harnett sold 650 shares of the business's 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 directly owns 11,910 shares of the company's stock, valued at approximately $1,002,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Prakash Arunkundrum sold 23,023 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the sale, the chief operating officer now directly owns 61,056 shares in the company, valued at $5,495,040. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock valued at $2,207,555 over the last three months. 0.15% of the stock is owned by insiders.

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.