LPL Financial LLC boosted its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 122.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,115 shares of the technology company's stock after acquiring an additional 22,122 shares during the period. LPL Financial LLC's holdings in Logitech International were worth $3,303,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC raised its holdings in Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock worth $451,426,000 after purchasing an additional 1,967,133 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Logitech International by 34.2% in the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock worth $402,802,000 after buying an additional 1,240,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Logitech International by 6.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company's stock valued at $215,127,000 after buying an additional 146,338 shares during the period. Assenagon Asset Management S.A. boosted its stake in Logitech International by 2,315.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company's stock valued at $119,673,000 after buying an additional 1,385,493 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Logitech International by 700.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company's stock worth $61,978,000 after acquiring an additional 655,025 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Logitech International
In related news, insider Samantha Harnett sold 300 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company's stock.
Logitech International Stock Performance
NASDAQ:LOGI traded down $2.91 during trading hours on Wednesday, hitting $69.88. 620,639 shares of the company's stock traded hands, compared to its average volume of 596,218. The stock's fifty day moving average price is $90.35 and its two-hundred day moving average price is $86.89. The firm has a market cap of $11.05 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65.
Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. On average, equities research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current year.
Logitech International announced that its board has authorized a share buyback program on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Wedbush raised shares of Logitech International from a "neutral" rating to an "outperform" rating and upped their price target for the company from $100.00 to $125.00 in a report on Friday, March 7th. Barclays lifted their price target on shares of Logitech International from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Logitech International from $99.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. 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 report on Friday, April 4th. Finally, Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $93.43.
Get Our Latest Analysis on Logitech International
About Logitech International
(
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.
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