Lansforsakringar Fondforvaltning AB publ Buys New Position in Logitech International S.A. (NASDAQ:LOGI)

Lansforsakringar Fondforvaltning AB publ bought a new position in Logitech International S.A. (NASDAQ:LOGI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 18,283 shares of the technology company's stock, valued at approximately $1,513,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of Logitech International by 5.7% in the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock worth $28,913,000 after purchasing an additional 18,986 shares during the period. US Bancorp DE lifted its position in Logitech International by 5.6% during the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock valued at $687,000 after acquiring an additional 446 shares during the period. Atria Wealth Solutions Inc. purchased a new position in Logitech International during the 4th quarter valued at about $246,000. Capital Insight Partners LLC lifted its position in Logitech International by 8.1% during the 4th quarter. Capital Insight Partners LLC now owns 51,687 shares of the technology company's stock valued at $4,256,000 after acquiring an additional 3,851 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Logitech International during the 4th quarter valued at about $4,162,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOGI has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Citigroup lowered their price target on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Logitech International in a research report on Wednesday, May 21st. Loop Capital lowered their price target on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Finally, Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and lowered their price target for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $84.29.

Logitech International Stock Up 1.1%

Logitech International stock traded up $0.88 during trading hours on Tuesday, hitting $83.30. The stock had a trading volume of 546,519 shares, compared to its average volume of 629,484. The stock has a market capitalization of $13.17 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The stock's 50-day moving average price is $78.77 and its 200-day moving average price is $86.13.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The business's revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts expect that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership 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.