USS Investment Management Ltd Acquires 3,542 Shares of Logitech International S.A. (NASDAQ:LOGI)

USS Investment Management Ltd increased its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 30.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,283 shares of the technology company's stock after acquiring an additional 3,542 shares during the quarter. USS Investment Management Ltd's holdings in Logitech International were worth $1,263,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Banque Transatlantique SA bought a new position in Logitech International during the fourth quarter valued at about $26,000. Sierra Ocean LLC bought a new position in Logitech International during the fourth quarter worth about $27,000. Bessemer Group Inc. lifted its holdings in shares of Logitech International by 1,339.1% during the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management bought a new stake in Logitech International in the 4th quarter valued at approximately $32,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Logitech International by 975.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after purchasing an additional 439 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on LOGI. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Logitech International in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Barclays dropped their price target on Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Loop Capital reduced their price target on Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Logitech International presently has an average rating of "Hold" and an average target price of $84.29.

Logitech International Price Performance

NASDAQ:LOGI traded down $2.45 during mid-day trading on Friday, reaching $82.64. 424,087 shares of the company's stock traded hands, compared to its average volume of 628,481. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.61 and a beta of 0.99. The company has a 50 day moving average price of $79.24 and a 200-day moving average price of $85.96.

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

Logitech International declared that its Board of Directors has approved a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.