Advisory Services Network LLC Acquires New Shares in Logitech International S.A. (NASDAQ:LOGI)

Advisory Services Network LLC bought a new position in Logitech International S.A. (NASDAQ:LOGI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,025 shares of the technology company’s stock, valued at approximately $661,000.

A number of other hedge funds have also added to or reduced their stakes in LOGI. Charles Schwab Investment Management Inc. lifted its holdings in shares of Logitech International by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock worth $1,455,000 after buying an additional 1,206 shares in the last quarter. MML Investors Services LLC lifted its stake in Logitech International by 16.3% in the 3rd quarter. MML Investors Services LLC now owns 2,935 shares of the technology company’s stock worth $263,000 after purchasing an additional 411 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Logitech International in the 3rd quarter valued at $421,000. Barclays PLC increased its holdings in shares of Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after purchasing an additional 1,967,133 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Logitech International during the third quarter valued at $12,597,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insider Transactions at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, the insider now directly owns 7,348 shares of the company’s stock, valued at $709,816.80. This represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOGI. JPMorgan Chase & Co. raised their price target on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Barclays lifted their target price on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush raised shares of Logitech International from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $93.43.

Logitech International Stock Down 0.9 %

Shares of LOGI stock opened at $72.79 on Wednesday. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.61 and a beta of 0.97. The stock has a fifty day moving average of $90.35 and a 200 day moving average of $86.89. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) 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%. 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 authorized a share buyback plan on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are 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.