Norges Bank Makes New $214.13 Million Investment in Logitech International S.A. (NASDAQ:LOGI)

Norges Bank bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,258,109 shares of the technology company’s stock, valued at approximately $214,130,000. Norges Bank owned 1.43% of Logitech International as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. grew its holdings in shares of Logitech International by 2.3% during the 4th quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after acquiring an additional 121,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Logitech International by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after purchasing an additional 760,263 shares in the last quarter. Allworth Financial LP boosted its position in shares of Logitech International by 249.1% in the 3rd quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock worth $52,000 after purchasing an additional 538 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Logitech International in the 4th quarter worth approximately $1,483,000. Finally, Qtron Investments LLC bought a new stake in shares of Logitech International in the 3rd quarter worth approximately $585,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insider Transactions at Logitech International

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the completion of the sale, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Charles D. Boynton acquired 1,225 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $81.27 per share, with a total value of $99,555.75. Following the acquisition, the chief financial officer now directly owns 1,225 shares of the company’s stock, valued at $99,555.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the transaction, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The disclosure for this sale can be found here. Insiders sold 23,922 shares of company stock worth $2,152,844 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. cut Logitech International from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $85.00 in a research report on Wednesday, May 1st. Barclays upped their price objective on Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Berenberg Bank initiated coverage on Logitech International in a research report on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 price objective (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.00.

Logitech International Trading Up 2.5 %

Shares of LOGI opened at $94.75 on Thursday. The firm has a market cap of $14.98 billion, a PE ratio of 24.48, a P/E/G ratio of 2.85 and a beta of 0.78. The firm has a fifty day simple moving average of $86.00 and a two-hundred day simple moving average of $87.76. Logitech International S.A. has a 1-year low of $53.91 and a 1-year high of $96.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.55 by $0.34. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. As a group, research analysts forecast that Logitech International S.A. will post 3.85 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.