9,862 Shares in Logitech International S.A. (NASDAQ:LOGI) Purchased by Novem Group

Novem Group acquired a new position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,862 shares of the technology company's stock, valued at approximately $812,000.

A number of other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in shares of Logitech International by 4,876.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company's stock valued at $13,798,000 after buying an additional 164,185 shares during the period. Bank of New York Mellon Corp increased its holdings in Logitech International by 5.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock valued at $28,913,000 after purchasing an additional 18,986 shares during the period. US Bancorp DE increased its holdings in Logitech International by 5.6% in the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock valued at $687,000 after purchasing an additional 446 shares during the period. Barclays PLC increased its holdings in Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock valued at $451,426,000 after purchasing an additional 1,967,133 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new stake in Logitech International during the fourth quarter valued at $246,000. Institutional investors own 45.76% of the company's stock.

Analyst Ratings Changes

LOGI has been the topic of a number of research analyst reports. Loop Capital cut their price target on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Barclays decreased their price objective on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. UBS Group upgraded shares of Logitech International from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Wedbush reiterated an "outperform" rating and issued a $100.00 price objective on shares of Logitech International in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Logitech International has an average rating of "Hold" and an average target price of $84.29.

Logitech International Price Performance

NASDAQ:LOGI traded down $2.70 during trading hours on Friday, hitting $83.84. The stock had a trading volume of 636,856 shares, compared to its average volume of 629,105. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.61 and a beta of 0.99. The company has a 50 day simple moving average of $79.74 and a two-hundred day simple moving average of $85.87.

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

Logitech International declared that its Board of Directors has approved 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 stock is 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.