Logitech International S.A. (NASDAQ:LOGI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 8,341.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,155 shares of the technology company's stock after acquiring an additional 12,011 shares during the period. GAMMA Investing LLC's holdings in Logitech International were worth $1,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Logitech International by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company's stock worth $507,000 after buying an additional 120 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Logitech International by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company's stock valued at $458,000 after purchasing an additional 127 shares during the period. Freedom Investment Management Inc. grew its holdings in Logitech International by 4.1% in the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company's stock valued at $284,000 after purchasing an additional 136 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Logitech International by 16.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company's stock valued at $123,000 after purchasing an additional 213 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Logitech International by 7.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company's stock valued at $267,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 45.76% of the company's stock.

Logitech International Price Performance

LOGI stock traded down $0.69 during midday trading on Wednesday, reaching $84.51. 398,052 shares of the company's stock traded hands, compared to its average volume of 635,007. The company has a market capitalization of $13.37 billion, a P/E ratio of 19.91, a PEG ratio of 17.71 and a beta of 0.96. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65. The business has a 50-day moving average price of $80.82 and a two-hundred day moving average price of $86.57.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. Logitech International had a net margin of 13.86% and a return on equity of 30.40%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the company posted $0.99 earnings per share. Logitech International's revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal 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 outstanding shares. This buyback authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LOGI. Wedbush restated an "outperform" rating and issued a $100.00 target price on shares of Logitech International in a report on Wednesday, May 21st. Citigroup lowered their target price on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Loop Capital lowered their target price on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, UBS Group upgraded shares of Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $84.29.

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.