LPL Financial LLC Increases Stock Position in Logitech International S.A. (NASDAQ:LOGI)

LPL Financial LLC increased its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 122.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,115 shares of the technology company's stock after purchasing an additional 22,122 shares during the quarter. LPL Financial LLC's holdings in Logitech International were worth $3,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Logitech International by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company's stock valued at $1,455,000 after buying an additional 1,206 shares during the period. Wellington Management Group LLP raised its holdings in Logitech International by 37.3% during the 3rd quarter. Wellington Management Group LLP now owns 135,896 shares of the technology company's stock worth $12,173,000 after purchasing an additional 36,950 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Logitech International by 16.3% in the 3rd quarter. MML Investors Services LLC now owns 2,935 shares of the technology company's stock valued at $263,000 after purchasing an additional 411 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Logitech International in the 3rd quarter valued at $421,000. Finally, Barclays PLC increased its position in shares of Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock worth $451,426,000 after buying an additional 1,967,133 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, the insider now directly owns 7,348 shares of the company's stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. StockNews.com lowered shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Barclays raised their price target on shares of Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and reduced their target price for the company from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Citigroup reduced their price objective on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Logitech International has an average rating of "Hold" and a consensus target price of $90.57.

Logitech International Stock Up 1.3 %

Shares of LOGI stock traded up $0.90 during trading on Thursday, hitting $71.03. The company had a trading volume of 160,868 shares, compared to its average volume of 829,020. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $105.65. The stock's 50-day moving average is $89.78 and its two-hundred day moving average is $86.78. The stock has a market capitalization of $11.23 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, research analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its board has authorized a stock buyback plan on Wednesday, March 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board 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.