Logan Capital Management Inc. Trims Holdings in Logitech International S.A. (NASDAQ:LOGI)

Logan Capital Management Inc. lowered its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 8.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,193 shares of the technology company’s stock after selling 6,133 shares during the quarter. Logan Capital Management Inc.’s holdings in Logitech International were worth $5,204,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LOGI. PNC Financial Services Group Inc. raised its position in shares of Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after buying an additional 127 shares in the last quarter. Freedom Investment Management Inc. raised its holdings in Logitech International by 4.1% during the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company’s stock worth $284,000 after purchasing an additional 136 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in Logitech International by 1.2% in the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after purchasing an additional 175 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Logitech International by 16.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company’s stock valued at $123,000 after purchasing an additional 213 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Logitech International by 7.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company’s stock valued at $267,000 after purchasing an additional 230 shares during the period. Institutional investors own 45.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Barclays cut their price objective on Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Citigroup decreased their target price on Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $85.71.

Logitech International Price Performance

NASDAQ LOGI opened at $80.62 on Monday. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65. The firm has a market capitalization of $12.75 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. The company has a 50 day simple moving average of $80.99 and a 200-day simple moving average of $85.61.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $0.99 earnings per share. Logitech International’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its board has approved a stock buyback program on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership 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.