Graham Capital Management L.P. Buys New Stake in Logitech International S.A. (NASDAQ:LOGI)

Graham Capital Management L.P. bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,658 shares of the technology company's stock, valued at approximately $2,278,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in Logitech International in the 4th quarter valued at approximately $26,000. Sierra Ocean LLC acquired a new stake in shares of Logitech International in the 4th quarter valued at approximately $27,000. Bessemer Group Inc. boosted its stake in shares of Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after buying an additional 308 shares in the last quarter. Exane Asset Management acquired a new position in Logitech International during the fourth quarter worth $32,000. Finally, Tower Research Capital LLC TRC raised its position in Logitech International by 975.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after acquiring an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Price Performance

LOGI stock traded up $0.17 during midday trading on Thursday, hitting $87.76. The stock had a trading volume of 501,450 shares, compared to its average volume of 623,496. The company's 50-day moving average price is $80.37 and its 200 day moving average price is $85.67. The firm has a market cap of $13.88 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65.

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

Logitech International announced that its board has initiated a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have commented on LOGI. Citigroup lowered their price target on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Morgan Stanley raised shares of Logitech International from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and lowered their price target for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Finally, UBS Group raised Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Logitech International currently has a consensus rating of "Hold" and a consensus price target of $85.71.

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.