Graham Capital Management L.P. Buys Shares of 27,658 Logitech International S.A. (NASDAQ:LOGI)

Graham Capital Management L.P. acquired a new position in Logitech International S.A. (NASDAQ:LOGI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,658 shares of the technology company’s stock, valued at approximately $2,278,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake in shares of Logitech International by 4,876.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock worth $13,798,000 after acquiring an additional 164,185 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Logitech International by 5.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company’s stock worth $28,913,000 after acquiring an additional 18,986 shares during the period. US Bancorp DE lifted its stake in shares of Logitech International by 5.6% in the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock worth $687,000 after acquiring an additional 446 shares during the period. Barclays PLC lifted its stake 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 acquiring an additional 1,967,133 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Logitech International in the fourth quarter worth approximately $246,000. 45.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOGI has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and issued a $110.00 price target (down from $125.00) on shares of Logitech International in a research note on Thursday, April 24th. Citigroup dropped their price target on Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Barclays dropped their price target on Logitech International from $108.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.71.

Logitech International Stock Down 0.7%

Shares of NASDAQ:LOGI opened at $80.62 on Monday. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65. The stock’s 50 day moving average is $80.99 and its 200-day moving average is $85.61. The firm has a market capitalization of $12.75 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Logitech International’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Equities research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has approved a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.