50,191 Shares in Logitech International S.A. (NASDAQ:LOGI) Acquired by United Services Automobile Association

United Services Automobile Association acquired a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 50,191 shares of the technology company's stock, valued at approximately $4,133,000.

Other institutional investors have also modified their holdings of the company. Banco Santander S.A. acquired a new position in Logitech International in the third quarter valued at approximately $485,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Logitech International by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company's stock valued at $1,455,000 after buying an additional 1,206 shares in the last quarter. Cerity Partners LLC grew its position in shares of Logitech International by 63.4% in the 3rd quarter. Cerity Partners LLC now owns 5,125 shares of the technology company's stock valued at $460,000 after buying an additional 1,989 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Logitech International by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 67,199 shares of the technology company's stock worth $6,041,000 after acquiring an additional 392 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in Logitech International by 121.2% in the third quarter. Quantbot Technologies LP now owns 81,596 shares of the technology company's stock valued at $7,322,000 after acquiring an additional 44,707 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling at Logitech International

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred on Monday, February 3rd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on LOGI shares. Citigroup raised their price objective on Logitech International from $92.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Bank of America reiterated an "underperform" rating and set a $90.00 price target (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. Wedbush raised shares of Logitech International from a "neutral" rating to an "outperform" rating and upped their target price for the company from $100.00 to $125.00 in a report on Friday, March 7th. Barclays raised their price target on Logitech International from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, StockNews.com cut Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Logitech International presently has a consensus rating of "Hold" and an average target price of $100.14.

Logitech International Stock Performance

LOGI stock traded down $1.65 during midday trading on Friday, hitting $86.95. 691,322 shares of the stock were exchanged, compared to its average volume of 545,615. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $105.65. The stock's 50-day moving average price is $96.14 and its 200-day moving average price is $88.11.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data 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%. Research analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current year.

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

Logitech International 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.