Ossiam Trims Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Ossiam lowered its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 35.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,008 shares of the technology company's stock after selling 13,099 shares during the period. Ossiam's holdings in Logitech International were worth $1,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOGI. Sierra Ocean LLC acquired a new position in Logitech International during the fourth quarter worth about $27,000. Bessemer Group Inc. lifted its stake in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management acquired a new position in shares of Logitech International during the 4th quarter worth approximately $32,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Logitech International in the fourth quarter valued at approximately $49,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Logitech International by 56.0% in the fourth 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. Institutional investors and hedge funds own 45.76% of the company's stock.

Insider Buying and Selling

In other 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 value of $28,980.00. Following the completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company's stock.

Logitech International Stock Performance

LOGI stock traded up $0.64 during mid-day trading on Friday, reaching $77.79. The company had a trading volume of 840,056 shares, compared to its average volume of 602,214. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The firm has a fifty day simple moving average of $85.73 and a 200 day simple moving average of $86.16.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share 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%. As a group, analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International announced that its board has approved a stock repurchase plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LOGI has been the subject of several analyst reports. Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Citigroup cut their price objective on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. StockNews.com downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and reduced their price target for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $88.43.

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.