APG Asset Management US Inc. Makes New $396,000 Investment in Logitech International S.A. (NASDAQ:LOGI)

APG Asset Management US Inc. purchased a new stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,788 shares of the technology company's stock, valued at approximately $396,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Logitech International during the fourth quarter valued at approximately $4,162,000. Advisory Services Network LLC purchased a new position in Logitech International during the fourth quarter valued at approximately $661,000. Renaissance Technologies LLC raised its holdings in Logitech International by 1.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,833,708 shares of the technology company's stock valued at $151,006,000 after acquiring an additional 18,100 shares during the period. Employees Retirement System of Texas lifted its position in shares of Logitech International by 89.2% in the fourth quarter. Employees Retirement System of Texas now owns 1,232 shares of the technology company's stock valued at $1,015,000 after acquiring an additional 581 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Logitech International by 116.0% in the fourth quarter. Bank of Montreal Can now owns 206,047 shares of the technology company's stock worth $17,034,000 after acquiring an additional 110,668 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Stock Down 0.9 %

LOGI traded down $0.65 during trading on Tuesday, reaching $72.82. The company had a trading volume of 377,946 shares, compared to its average volume of 597,125. The business has a 50 day simple moving average of $90.88 and a 200-day simple moving average of $86.99. The stock has a market cap of $11.52 billion, a P/E ratio of 17.09, a PEG ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $105.65.

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Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. As a group, equities research analysts expect that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has approved a share buyback program on Wednesday, March 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wedbush raised Logitech International from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $100.00 to $125.00 in a report on Friday, March 7th. Barclays raised their target price on shares of Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. StockNews.com downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup cut their price objective on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and decreased their target price for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Logitech International currently has a consensus rating of "Hold" and an average price target of $93.43.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the completion of the sale, the insider now directly owns 7,348 shares of the company's stock, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

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.