Logitech International S.A. (NASDAQ:LOGI) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Logitech International S.A. (NASDAQ:LOGI) by 36.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,822,286 shares of the technology company’s stock after purchasing an additional 760,263 shares during the quarter. Logitech International comprises approximately 1.0% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 14th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 1.78% of Logitech International worth $267,457,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Logitech International by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,313,623 shares of the technology company’s stock valued at $244,427,000 after buying an additional 113,618 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Logitech International by 2.3% in the 4th quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after buying an additional 121,060 shares during the last quarter. Norges Bank purchased a new position in Logitech International in the 4th quarter valued at about $238,096,000. Invesco Ltd. boosted its position in Logitech International by 24.0% in the 1st quarter. Invesco Ltd. now owns 2,409,946 shares of the technology company’s stock valued at $177,807,000 after buying an additional 466,632 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Logitech International by 62.2% during the second quarter. Alliancebernstein L.P. now owns 1,585,481 shares of the technology company’s stock worth $94,178,000 after purchasing an additional 608,262 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley reiterated an “underweight” rating and set a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a research note on Monday. Berenberg Bank assumed coverage on shares of Logitech International in a research note on Thursday, March 14th. They set a “buy” rating and a $111.00 price objective on the stock. Barclays increased their price objective on shares of Logitech International from $96.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Logitech International in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.43.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the transaction, the insider now owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Logitech International news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Prakash Arunkundrum sold 699 shares of Logitech International stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $90.00, for a total transaction of $62,910.00. Following the sale, the chief operating officer now directly owns 67,848 shares of the company’s stock, valued at approximately $6,106,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,572 shares of company stock valued at $2,207,555. Company insiders own 0.15% of the company’s stock.

Logitech International Price Performance

Shares of NASDAQ LOGI traded down $1.57 during mid-day trading on Tuesday, reaching $79.69. 1,005,598 shares of the company traded hands, compared to its average volume of 447,852. Logitech International S.A. has a fifty-two week low of $53.91 and a fifty-two week high of $96.66. The firm has a market cap of $12.60 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.79 and a beta of 0.74. The stock has a fifty day simple moving average of $88.35 and a 200-day simple moving average of $85.90.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, January 22nd. The technology company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.43. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, analysts predict that Logitech International S.A. will post 3.44 EPS for the current fiscal year.

Logitech International Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.