Voloridge Investment Management LLC Takes Position in Logitech International S.A. (NASDAQ:LOGI)

Voloridge Investment Management LLC bought a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,515 shares of the technology company's stock, valued at approximately $2,678,000.

A number of other large investors have also recently bought and sold shares of the company. Woodline Partners LP raised its stake in Logitech International by 15.9% in the 4th quarter. Woodline Partners LP now owns 5,490 shares of the technology company's stock valued at $452,000 after purchasing an additional 755 shares during the last quarter. State of Wyoming raised its position in Logitech International by 134.3% in the 4th quarter. State of Wyoming now owns 3,205 shares of the technology company's stock valued at $264,000 after purchasing an additional 1,837 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Logitech International in the 4th quarter valued at about $59,000. ProShare Advisors LLC acquired a new stake in shares of Logitech International during the 4th quarter worth about $1,017,000. Finally, Quantinno Capital Management LP grew its stake in Logitech International by 62.6% during the 4th quarter. Quantinno Capital Management LP now owns 42,421 shares of the technology company's stock worth $3,493,000 after buying an additional 16,338 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LOGI. JPMorgan Chase & Co. decreased their price target on Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. UBS Group raised Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and decreased their target price for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. Citigroup cut their price objective 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. Finally, Wall Street Zen lowered Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Logitech International currently has a consensus rating of "Hold" and a consensus price target of $84.29.

Logitech International Stock Down 2.8%

Shares of NASDAQ LOGI traded down $2.42 during trading hours on Friday, hitting $82.67. The company had a trading volume of 829,184 shares, compared to its average volume of 630,003. The firm's 50 day moving average is $79.05 and its 200-day moving average is $86.11. Logitech International S.A. has a 1-year low of $64.73 and a 1-year high of $105.65. The stock has a market capitalization of $13.07 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly 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. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Logitech International's revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company earned $0.99 EPS. On average, sell-side analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its board has authorized a share repurchase program on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is 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.