Ameriprise Financial Inc. Boosts Stake in Logitech International S.A. (NASDAQ:LOGI)

Ameriprise Financial Inc. grew its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 505.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,759 shares of the technology company's stock after purchasing an additional 247,779 shares during the period. Ameriprise Financial Inc. owned about 0.19% of Logitech International worth $24,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sierra Ocean LLC bought a new stake in shares of Logitech International during the fourth quarter worth about $27,000. Bessemer Group Inc. grew its position in Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after buying an additional 308 shares during the period. Exane Asset Management bought a new stake in shares of Logitech International in the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC lifted its position in shares of Logitech International by 975.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock valued at $40,000 after buying an additional 439 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Logitech International in the fourth quarter worth about $49,000. Institutional investors own 45.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Kepler Capital Markets upgraded Logitech International from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley upgraded shares of Logitech International from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Wedbush restated an "outperform" rating and set a $110.00 target price (down previously from $125.00) on shares of Logitech International in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $85.71.

Logitech International Price Performance

Logitech International stock traded up $0.14 during midday trading on Tuesday, reaching $86.64. 110,585 shares of the company traded hands, compared to its average volume of 625,297. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65. The business has a 50 day moving average of $80.05 and a two-hundred day moving average of $85.78. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $0.99 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts forecast 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 program 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 programs are often an indication that the company's management believes its shares are 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.