Logitech International S.A. (NASDAQ:LOGI) Shares Purchased by Korea Investment CORP

Korea Investment CORP boosted its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 74.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,839 shares of the technology company’s stock after buying an additional 35,814 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Logitech International worth $6,942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LOGI. Barclays PLC grew its position in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after acquiring an additional 1,967,133 shares during the period. Assenagon Asset Management S.A. grew its holdings in Logitech International by 2,315.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after purchasing an additional 1,385,493 shares during the period. Vontobel Holding Ltd. increased its position in shares of Logitech International by 34.2% in the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after buying an additional 1,240,478 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Logitech International by 700.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after buying an additional 655,025 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Logitech International during the 3rd quarter valued at approximately $15,891,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LOGI shares. Citigroup boosted their price target on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $125.00 in a research report on Friday, March 7th. Bank of America reiterated an “underperform” rating and issued a $90.00 price objective (down from $105.00) on shares of Logitech International in a report on Friday, February 28th. Barclays increased their target price on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Logitech International has an average rating of “Hold” and a consensus target price of $100.14.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business’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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Logitech International Price Performance

LOGI stock opened at $84.41 on Tuesday. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $105.65. The firm has a market capitalization of $13.35 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. The business has a 50 day simple moving average of $96.09 and a 200-day simple moving average of $88.16.

Logitech International (NASDAQ:LOGI) last issued its 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 return on equity of 30.53% and a net margin of 14.38%. On average, equities research analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its board has approved a share repurchase plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans 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.