Advisory Services Network LLC Invests $661,000 in Logitech International S.A. (NASDAQ:LOGI)

Advisory Services Network LLC bought a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,025 shares of the technology company's stock, valued at approximately $661,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LOGI. Sierra Ocean LLC acquired a new stake in Logitech International during the 4th quarter worth approximately $27,000. Exane Asset Management acquired a new position in Logitech International during the 4th quarter worth $32,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Logitech International in the 4th quarter valued at about $49,000. MassMutual Private Wealth & Trust FSB lifted 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 position in Logitech International in the fourth quarter valued at $72,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the transaction, the insider now owns 7,348 shares of the company's stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Logitech International Trading Down 1.5 %

Shares of LOGI traded down $1.09 during mid-day trading on Monday, reaching $70.54. The company had a trading volume of 36,813 shares, compared to its average volume of 593,923. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The firm has a fifty day simple moving average of $88.64 and a 200-day simple moving average of $86.56. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) 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 return on equity of 30.53% and a net margin of 14.38%. As a group, equities analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday. Citigroup reduced their price target on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and dropped their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. Finally, Barclays raised their target price on Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $90.57.

Logitech International Company 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.