Summit Global Investments Raises Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Summit Global Investments raised its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 119.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,809 shares of the technology company's stock after purchasing an additional 17,328 shares during the period. Summit Global Investments' holdings in Logitech International were worth $2,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LOGI. Barclays PLC lifted its holdings in shares of Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock valued at $451,426,000 after purchasing an additional 1,967,133 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock valued at $402,802,000 after acquiring an additional 1,240,478 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 valued at $215,127,000 after acquiring an additional 146,338 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company's stock worth $119,673,000 after acquiring an additional 1,385,493 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Logitech International by 1.8% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,097,951 shares of the technology company's stock valued at $98,348,000 after purchasing an additional 19,046 shares during the last quarter. Institutional investors own 45.76% of the company's stock.

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Logitech International Price Performance

Shares of NASDAQ:LOGI traded down $1.43 during mid-day trading on Wednesday, reaching $91.02. 350,611 shares of the company traded hands, compared to its average volume of 539,974. The company's 50 day moving average price is $96.08 and its 200-day moving average price is $88.07. The firm has a market cap of $14.39 billion, a PE ratio of 21.37, a PEG ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating 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%. On average, research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its board has authorized a stock buyback program on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 300 shares of the business's 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on LOGI. Morgan Stanley raised shares of Logitech International from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Wedbush upgraded Logitech International from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $100.00 to $125.00 in a research report on Friday, March 7th. Bank of America reissued an "underperform" rating and issued a $90.00 target price (down previously from $105.00) on shares of Logitech International in a report on Friday, February 28th. Citigroup upped their price target on shares of Logitech International from $92.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Kepler Capital Markets raised shares of Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $100.14.

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.