Pictet Asset Management Holding SA Grows Stake in Logitech International S.A. (NASDAQ:LOGI)

Pictet Asset Management Holding SA grew its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,273,518 shares of the technology company’s stock after purchasing an additional 266,167 shares during the period. Pictet Asset Management Holding SA’s holdings in Logitech International were worth $188,254,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its holdings in shares of Logitech International by 4,876.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock valued at $13,798,000 after buying an additional 164,185 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Logitech International by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock worth $1,455,000 after acquiring an additional 1,206 shares during the period. Bank of New York Mellon Corp grew its stake in Logitech International by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company’s stock valued at $28,913,000 after purchasing an additional 18,986 shares during the last quarter. US Bancorp DE increased its holdings in shares of Logitech International by 5.6% in the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock valued at $687,000 after purchasing an additional 446 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Logitech International in the third quarter worth about $12,597,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Insider Transactions at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now owns 7,348 shares of the company’s stock, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

LOGI has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Citigroup boosted their target price on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Finally, Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $125.00 in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $100.14.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $86.95 on Friday. The firm has a fifty day moving average of $96.14 and a 200 day moving average of $88.11. Logitech International S.A. has a one year low of $74.72 and a one year high of $105.65. The firm has a market cap of $13.75 billion, a PE ratio of 20.41, a PEG ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its board has authorized a share repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Logitech International 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.