SIH Partners LLLP Purchases New Holdings in Logitech International S.A. (NASDAQ:LOGI)

SIH Partners LLLP bought a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 387,197 shares of the technology company's stock, valued at approximately $31,886,000. Logitech International makes up approximately 1.6% of SIH Partners LLLP's holdings, making the stock its 7th largest holding. SIH Partners LLLP owned approximately 0.24% of Logitech International at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Logitech International by 8.2% during the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock worth $448,409,000 after purchasing an additional 414,236 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock worth $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Logitech International by 6.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company's stock worth $215,127,000 after purchasing an additional 146,338 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Logitech International by 13.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock worth $188,254,000 after purchasing an additional 266,167 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Logitech International during the 4th quarter worth approximately $156,888,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Trading Up 0.8 %

NASDAQ:LOGI traded up $0.64 on Friday, hitting $77.79. 840,056 shares of the stock were exchanged, compared to its average volume of 602,470. The stock has a market cap of $12.30 billion, a PE ratio of 18.26, a PEG ratio of 2.61 and a beta of 0.97. The stock has a fifty day moving average of $85.73 and a 200-day moving average of $86.18. 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, 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 initiated a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

LOGI has been the topic of a number of analyst reports. Wedbush restated an "outperform" rating and set a $110.00 target price (down previously from $125.00) on shares of Logitech International in a research report on Thursday. Kepler Capital Markets upgraded shares of Logitech International from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Barclays raised their target price 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. StockNews.com lowered shares of Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased 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, April 17th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $88.43.

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.