State of Tennessee Department of Treasury Grows Position in Logitech International S.A. (NASDAQ:LOGI)

State of Tennessee Department of Treasury grew its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 40.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,437 shares of the technology company's stock after purchasing an additional 15,006 shares during the period. State of Tennessee Department of Treasury's holdings in Logitech International were worth $4,342,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in Logitech International during the fourth quarter worth about $27,000. Bessemer Group Inc. increased its stake in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management acquired a new position in Logitech International during the fourth quarter worth $32,000. Tower Research Capital LLC TRC boosted its position in Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after purchasing an additional 439 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Logitech International in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Price Performance

LOGI opened at $77.79 on Friday. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65. The business has a 50-day moving average of $85.73 and a two-hundred day moving average of $86.16.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued 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 net margin of 14.38% and a return on equity of 30.53%. Equities research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LOGI shares. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Kepler Capital Markets raised shares of Logitech International from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and reduced their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Citigroup dropped their price target on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price objective on 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $88.43.

Insider Buying and Selling at Logitech International

In related news, insider Samantha Harnett sold 300 shares of the firm'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 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 SEC, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.