Plato Investment Management Ltd Acquires 17,796 Shares of Logitech International S.A. $LOGI

Key Points

• Plato Investment Management Ltd increased its Logitech stake by 65.7% in the fourth quarter, buying 17,796 additional shares and bringing its total holdings to 44,871 shares worth about $4.64 million.
• Logitech shares were up 6.0% and traded at $109.39, with the company valued at about $16.04 billion. The stock remains below its 52-week high of $123.01 but well above its low of $80.08.
• Logitech reported better-than-expected quarterly results, posting EPS of $1.13 versus the $1.10 estimate and revenue of $1.09 billion, while analysts remain mostly cautious with a consensus rating of Hold and a consensus price target of $113.67.

Plato Investment Management Ltd grew its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 65.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,871 shares of the technology company's stock after acquiring an additional 17,796 shares during the period. Plato Investment Management Ltd's holdings in Logitech International were worth $4,640,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Logitech International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company's stock worth $678,420,000 after acquiring an additional 75,256 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company's stock worth $288,430,000 after acquiring an additional 74,702 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 7.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company's stock worth $297,504,000 after acquiring an additional 191,828 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Logitech International by 305.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company's stock worth $227,859,000 after acquiring an additional 1,570,876 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Logitech International by 8.0% in the third quarter. Legal & General Group Plc now owns 1,327,129 shares of the technology company's stock worth $144,749,000 after acquiring an additional 98,589 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Logitech International Trading Up 6.0%

NASDAQ LOGI opened at $109.39 on Friday. The company has a fifty day simple moving average of $94.08 and a 200 day simple moving average of $100.75. The company has a market cap of $16.04 billion, a P/E ratio of 22.79, a P/E/G ratio of 2.77 and a beta of 1.07. Logitech International S.A. has a 1 year low of $80.08 and a 1 year high of $123.01.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a net margin of 14.69% and a return on equity of 34.12%. Logitech International's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. Equities research analysts forecast that Logitech International S.A. will post 5.18 EPS for the current fiscal year.

Key Headlines Impacting Logitech International

Here are the key news stories impacting Logitech International this week:

• Positive Sentiment: Logitech completed its $1.6 billion share buyback and launched a new three-year $1.4 billion repurchase program, reinforcing management’s capital-return strategy and supporting the stock. Logitech Completes $1.6 Billion Share Buyback and Launches New $1.4 Billion Program
• Positive Sentiment: The CEO said Logitech will increase spending on R&D and marketing to push growth in AI, gaming, and business users, signaling confidence in future demand. Logitech CEO plans to boost spending on R&D and marketing
• Positive Sentiment: Citigroup raised its price target on Logitech and kept a Buy rating, suggesting more upside from current levels. Logitech International price target raised by Citigroup
• Positive Sentiment: Wedbush initiated or reiterated an Outperform view, adding to the positive analyst tone around the stock. Logitech International Given Outperform Rating at Wedbush
• Neutral Sentiment: Logitech also launched new Rugged Combo 4c keyboard cases for iPad, a product update that supports its education lineup but is unlikely to be a major near-term stock driver. New Logitech Rugged Combo 4c Keyboard Cases
• Neutral Sentiment: Some analysts trimmed or only modestly adjusted earnings estimates, indicating expectations are still stable rather than sharply improving. Logitech earnings estimate updates
• Negative Sentiment: Barclays lifted its target but kept an Equal Weight rating and implied limited downside/upside balance, which may temper enthusiasm at higher share prices. Logitech International price target raised by Barclays
• Negative Sentiment: Management’s plan to boost spending could pressure margins if demand softens during a global slowdown, creating some risk around profitability. Logitech CEO plans to boost spending on R&D and marketing

Wall Street Analyst Weigh In

Several analysts have commented on LOGI shares. Citigroup boosted their target price on shares of Logitech International from $115.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday. Wall Street Zen downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Barclays boosted their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday. UBS Group downgraded shares of Logitech International from a "buy" rating to a "neutral" rating in a report on Tuesday, March 17th. Finally, Wedbush reaffirmed an "outperform" rating and set a $135.00 price objective on shares of Logitech International in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Logitech International presently has a consensus rating of "Hold" and a consensus price target of $113.67.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company's product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.

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