Hsbc Holdings PLC Sells 16,978 Shares of Logitech International S.A. (NASDAQ:LOGI)

Hsbc Holdings PLC cut its position in shares of Logitech International S.A. (NASDAQ:LOGIFree Report) by 46.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,294 shares of the technology company’s stock after selling 16,978 shares during the period. Hsbc Holdings PLC’s holdings in Logitech International were worth $1,838,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Logitech International in the 4th quarter valued at $214,130,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Logitech International by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock valued at $267,457,000 after acquiring an additional 760,263 shares during the period. Acadian Asset Management LLC raised its position in Logitech International by 317.8% in the third quarter. Acadian Asset Management LLC now owns 546,851 shares of the technology company’s stock worth $37,817,000 after purchasing an additional 415,950 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Logitech International by 574.6% during the fourth quarter. Russell Investments Group Ltd. now owns 296,210 shares of the technology company’s stock worth $28,012,000 after purchasing an additional 252,299 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in Logitech International by 2.3% during the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after purchasing an additional 121,060 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Price Performance

LOGI opened at $101.14 on Friday. The stock has a market capitalization of $16.00 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 3.08 and a beta of 0.82. The company’s 50 day simple moving average is $87.50 and its 200-day simple moving average is $88.88. Logitech International S.A. has a one year low of $53.91 and a one year high of $102.59.

Logitech International (NASDAQ:LOGIGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. The firm had revenue of $1.01 billion for 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, analysts anticipate that Logitech International S.A. will post 3.85 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. lowered shares of Logitech International from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $85.00 in a report on Wednesday, May 1st. Wedbush reissued a “neutral” rating and set a $92.00 price target on shares of Logitech International in a report on Tuesday, April 30th. Citigroup upped their price objective on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, Berenberg Bank initiated coverage on shares of Logitech International in a research note on Thursday, March 14th. They issued a “buy” rating and a $111.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $91.00.

Read Our Latest Stock Analysis on LOGI

Insider Buying and Selling

In other Logitech International news, CFO Charles D. Boynton bought 1,225 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the transaction, the chief financial officer now owns 1,225 shares in the company, valued at approximately $99,555.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company’s stock.

Logitech International Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Logitech International (NASDAQ:LOGI)

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