Prudential PLC Grows Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Prudential PLC lifted its stake in Logitech International S.A. (NASDAQ:LOGI) by 3.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,991 shares of the technology company’s stock after acquiring an additional 1,070 shares during the quarter. Prudential PLC’s holdings in Logitech International were worth $2,893,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after purchasing an additional 1,967,133 shares during the period. Norges Bank acquired a new stake in Logitech International during the fourth quarter valued at $156,888,000. Assenagon Asset Management S.A. grew its position in Logitech International by 2,315.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after buying an additional 1,385,493 shares during the period. Vontobel Holding Ltd. increased its holdings in Logitech International by 34.2% in the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after buying an additional 1,240,478 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after acquiring an additional 655,025 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Logitech International

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Logitech International Stock Performance

Shares of LOGI stock opened at $69.30 on Friday. Logitech International S.A. has a fifty-two week low of $67.20 and a fifty-two week high of $105.65. The firm has a market capitalization of $10.96 billion, a P/E ratio of 16.27, a PEG ratio of 2.61 and a beta of 0.97. The stock’s fifty day moving average is $95.10 and its two-hundred day moving average is $87.91.

Logitech International (NASDAQ:LOGI) last posted 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 forecast that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its board has approved a stock repurchase program on Wednesday, March 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LOGI has been the subject of several recent analyst reports. Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Citigroup upped their target price on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.71.

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.