600 Shares in Logitech International S.A. (NASDAQ:LOGI) Purchased by Pilgrim Partners Asia Pte Ltd

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI) during the fourth quarter, Holdings Channel reports. The fund bought 600 shares of the technology company’s stock, valued at approximately $49,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LOGI. Charles Schwab Investment Management Inc. boosted its position in 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 during the period. Cerity Partners LLC boosted its holdings in Logitech International by 63.4% in the third quarter. Cerity Partners LLC now owns 5,125 shares of the technology company’s stock valued at $460,000 after purchasing an additional 1,989 shares during the period. The Manufacturers Life Insurance Company grew 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 purchasing an additional 392 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Logitech International by 4.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 27,213 shares of the technology company’s stock worth $2,442,000 after purchasing an additional 1,173 shares during the period. Finally, Quantinno Capital Management LP raised its position in Logitech International by 15.8% in the 3rd quarter. Quantinno Capital Management LP now owns 26,083 shares of the technology company’s stock valued at $2,340,000 after purchasing an additional 3,551 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the company’s 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Logitech International Trading Down 3.0 %

LOGI stock opened at $69.30 on Friday. The company has a market capitalization of $10.96 billion, a P/E ratio of 16.27, a PEG ratio of 2.61 and a beta of 0.97. The business has a 50 day simple moving average of $95.10 and a 200-day simple moving average of $87.90. Logitech International S.A. has a twelve month low of $67.20 and a twelve month high of $105.65.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Citigroup boosted their target price on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and dropped their price target for the company from $90.00 to $73.00 in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Logitech International presently has an average rating of “Hold” and an average price target of $97.71.

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.