Trexquant Investment LP Buys Shares of 60,725 Logitech International S.A. (NASDAQ:LOGI)

Trexquant Investment LP purchased a new position in shares of Logitech International S.A. (NASDAQ:LOGI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,725 shares of the technology company’s stock, valued at approximately $5,001,000.

Several other large investors also recently bought and sold shares of LOGI. PNC Financial Services Group Inc. increased its holdings in Logitech International by 2.3% in 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 during the period. Tealwood Asset Management Inc. increased its holdings in shares of Logitech International by 1.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock valued at $1,231,000 after purchasing an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Logitech International by 16.6% in 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 during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Logitech International by 7.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company’s stock worth $267,000 after buying an additional 230 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Logitech International by 56.0% during the fourth 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 during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com cut Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Bank of America raised Logitech International from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $73.00 in a report on Friday. JPMorgan Chase & Co. upped their target price on Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Citigroup upped their price objective on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.71.

Logitech International Stock Down 3.0 %

Shares of NASDAQ LOGI opened at $69.30 on Friday. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a 52 week low of $67.20 and a 52 week high of $105.65. The firm has a 50-day simple moving average of $95.10 and a 200-day simple moving average of $87.91.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred 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 approximately $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

About Logitech International

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.