Mirabella Financial Services LLP Makes New Investment in Logitech International S.A. (NASDAQ:LOGI)

Mirabella Financial Services LLP bought a new stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 31,231 shares of the technology company's stock, valued at approximately $2,572,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sierra Ocean LLC acquired a new position in Logitech International during the fourth quarter worth $27,000. Bessemer Group Inc. increased its stake in shares of Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management acquired a new position in shares of Logitech International during the 4th quarter worth about $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Logitech International in the 4th quarter valued at about $49,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Logitech International by 56.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock worth $53,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the company's stock in a transaction that occurred 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 directly owns 7,348 shares in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LOGI shares. Kepler Capital Markets upgraded Logitech International from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and decreased their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. Finally, StockNews.com downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $88.43.

Logitech International Stock Performance

Shares of NASDAQ LOGI traded up $2.20 during midday trading on Thursday, reaching $77.15. 731,759 shares of the stock were exchanged, compared to its average volume of 599,650. The stock has a market capitalization of $12.20 billion, a P/E ratio of 18.11, a PEG ratio of 2.61 and a beta of 0.97. The company has a 50 day simple moving average of $86.83 and a 200 day simple moving average of $86.28. 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 posted its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS 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, research analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current year.

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

About Logitech International

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.