Novem Group Raises Position in Logitech International S.A. (NASDAQ:LOGI)

Novem Group increased its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 30.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,816 shares of the technology company's stock after buying an additional 2,954 shares during the quarter. Novem Group's holdings in Logitech International were worth $1,082,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LOGI. Farther Finance Advisors LLC grew its stake in shares of Logitech International by 87.3% in the first quarter. Farther Finance Advisors LLC now owns 940 shares of the technology company's stock valued at $80,000 after buying an additional 438 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Logitech International by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock valued at $28,913,000 after acquiring an additional 18,986 shares during the last quarter. GAMMA Investing LLC raised its stake in Logitech International by 8,341.0% during the 1st quarter. GAMMA Investing LLC now owns 12,155 shares of the technology company's stock valued at $1,026,000 after acquiring an additional 12,011 shares during the last quarter. US Bancorp DE increased 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 worth $687,000 after purchasing an additional 446 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Logitech International during the 4th quarter worth approximately $4,162,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Trading Down 0.2%

NASDAQ:LOGI traded down $0.23 during trading hours on Thursday, hitting $92.70. 216,083 shares of the company were exchanged, compared to its average volume of 640,507. The company has a fifty day simple moving average of $84.29 and a 200 day simple moving average of $86.85. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 19.31 and a beta of 0.96.

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, beating analysts' consensus estimates of $0.86 by $0.07. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The company's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. Equities research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Tuesday, September 23rd will be paid a $1.543 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 23rd. This is a boost from Logitech International's previous annual dividend of $1.37.

Logitech International announced that its board has authorized a share buyback 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LOGI shares. Citigroup reduced their price target on Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Wedbush reissued an "outperform" rating and issued a $100.00 target price on shares of Logitech International in a report on Wednesday, May 21st. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and dropped their target price for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Loop Capital reduced their price objective on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and four have issued 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 $84.29.

About Logitech International

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.