Logitech International S.A. (NASDAQ:LOGI) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC cut its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,419 shares of the technology company’s stock after selling 2,771 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Logitech International were worth $2,589,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LOGI. Sierra Ocean LLC acquired a new position in shares of Logitech International during the 4th quarter worth approximately $27,000. Exane Asset Management acquired a new position in Logitech International during the fourth quarter worth $32,000. MassMutual Private Wealth & Trust FSB grew its holdings in Logitech International by 56.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after buying an additional 233 shares in the last quarter. Allianz SE acquired a new stake in shares of Logitech International in the 4th quarter worth $72,000. Finally, Global Retirement Partners LLC increased its stake in shares of Logitech International by 109.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock worth $99,000 after acquiring an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Down 16.6 %

NASDAQ:LOGI opened at $71.41 on Friday. Logitech International S.A. has a 52 week low of $69.95 and a 52 week high of $105.65. The stock’s fifty day moving average is $95.54 and its two-hundred day moving average is $88.02. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. On average, sell-side analysts expect that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has authorized a stock buyback 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 board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barclays lifted their price target on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.14.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction 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 sale, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

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.