Novem Group Makes New $812,000 Investment in Logitech International S.A. (NASDAQ:LOGI)

Novem Group purchased a new stake 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 fund purchased 9,862 shares of the technology company’s stock, valued at approximately $812,000.

Several other hedge funds have also recently modified their holdings of LOGI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Logitech International by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company’s stock valued at $341,610,000 after purchasing an additional 85,278 shares in the last quarter. USS Investment Management Ltd lifted its holdings in Logitech International by 30.2% during the fourth quarter. USS Investment Management Ltd now owns 15,283 shares of the technology company’s stock worth $1,263,000 after buying an additional 3,542 shares during the period. Voloridge Investment Management LLC bought a new stake in Logitech International during the 4th quarter valued at $2,678,000. Woodline Partners LP increased its holdings in shares of Logitech International by 15.9% in the 4th quarter. Woodline Partners LP now owns 5,490 shares of the technology company’s stock valued at $452,000 after acquiring an additional 755 shares during the period. Finally, State of Wyoming increased its holdings in shares of Logitech International by 134.3% in the 4th quarter. State of Wyoming now owns 3,205 shares of the technology company’s stock valued at $264,000 after acquiring an additional 1,837 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 0.2%

NASDAQ LOGI opened at $86.71 on Thursday. The company has a fifty day simple moving average of $79.94 and a two-hundred day simple moving average of $85.79. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The stock has a market cap of $13.71 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, sell-side analysts forecast 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 stock buyback program on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LOGI has been the subject of a number of analyst reports. StockNews.com cut Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Loop Capital decreased their price target on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a research report on Tuesday, May 6th. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $73.00 in a report on Friday, April 4th. UBS Group upgraded shares of Logitech International from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Citigroup decreased their target price on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.29.

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.