Renaissance Technologies LLC Increases Holdings in Logitech International S.A. (NASDAQ:LOGI)

Renaissance Technologies LLC grew its stake in Logitech International S.A. (NASDAQ:LOGI) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,833,708 shares of the technology company’s stock after acquiring an additional 18,100 shares during the quarter. Renaissance Technologies LLC owned about 1.16% of Logitech International worth $151,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LOGI. Sierra Ocean LLC acquired a new stake in shares of Logitech International during the 4th quarter worth approximately $27,000. Exane Asset Management purchased a new stake in Logitech International in the fourth quarter valued at $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Logitech International during the 4th quarter worth $49,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock worth $53,000 after purchasing an additional 233 shares during the last quarter. Finally, Allianz SE purchased a new stake in Logitech International in the 4th quarter valued at about $72,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LOGI shares. Wedbush upgraded shares of 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. Citigroup boosted their target price on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Bank of America upgraded Logitech International from an “underperform” rating to a “neutral” rating and lowered their price target for the stock from $90.00 to $73.00 in a research report on Friday. StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft raised 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.71.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $68.17 on Tuesday. The stock’s 50-day simple moving average is $94.62 and its 200-day simple moving average is $87.79. The firm has a market capitalization of $10.78 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a fifty-two week low of $65.00 and a fifty-two week high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS 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, sell-side analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Logitech International 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 value of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

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.