Stock Buyback Plan Initiated by Logitech International (NASDAQ:LOGI)

Logitech International (NASDAQ:LOGI - Get Free Report) declared that its board has approved a stock buyback program on Wednesday, March 5th, RTT News reports. The company plans to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have commented on LOGI. Wedbush raised shares of Logitech International from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $100.00 to $125.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Morgan Stanley raised shares of Logitech International from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. 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 report on Wednesday, January 29th. Finally, UBS Group raised shares of Logitech International from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $101.50.

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Logitech International Stock Performance

LOGI stock traded up $1.17 during midday trading on Friday, reaching $97.67. 824,226 shares of the company's stock traded hands, compared to its average volume of 538,537. The company has a 50-day moving average price of $94.58 and a two-hundred day moving average price of $87.97. Logitech International has a 52 week low of $74.72 and a 52 week high of $105.65. The firm has a market capitalization of $15.45 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73.

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 (EPS) for the quarter, beating 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, analysts predict that Logitech International will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling 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 transaction, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company's stock.

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.