Summit Global Investments Acquires 17,328 Shares of Logitech International S.A. (NASDAQ:LOGI)

Summit Global Investments raised its holdings in Logitech International S.A. (NASDAQ:LOGI) by 119.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,809 shares of the technology company’s stock after acquiring an additional 17,328 shares during the quarter. Summit Global Investments’ holdings in Logitech International were worth $2,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOGI. Sierra Ocean LLC bought a new position in Logitech International during the fourth quarter worth $27,000. Exane Asset Management acquired a new position in shares of Logitech International during the fourth quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock worth $53,000 after purchasing an additional 233 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Logitech International by 109.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock valued at $99,000 after buying an additional 631 shares during the period. Finally, Transamerica Financial Advisors Inc. increased its position in Logitech International by 115,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock valued at $104,000 after buying an additional 1,153 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

Logitech International Stock Performance

Logitech International stock opened at $89.97 on Friday. The stock has a market cap of $14.23 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $105.65. The firm’s 50-day simple moving average is $95.86 and its 200 day simple moving average is $87.97.

Logitech International (NASDAQ:LOGI) last released 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%. As a group, analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 owns 7,348 shares in the company, valued at $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

LOGI has been the subject of a number of research reports. Citigroup raised their price objective on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $125.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their price objective on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Bank of America reissued an “underperform” rating and set a $90.00 target price (down from $105.00) on shares of Logitech International in a research report on Friday, February 28th. Finally, Morgan Stanley raised shares of 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 report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus target price of $100.14.

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.