Mirabella Financial Services LLP Takes $2.57 Million Position in Logitech International S.A. (NASDAQ:LOGI)

Mirabella Financial Services LLP acquired a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 31,231 shares of the technology company's stock, valued at approximately $2,572,000.

Several other large investors also recently modified their holdings of the business. Sierra Ocean LLC bought a new position in Logitech International in the 4th quarter valued at about $27,000. Bessemer Group Inc. lifted its stake in shares of Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after acquiring an additional 308 shares during the period. Exane Asset Management acquired a new position in shares of Logitech International during the fourth quarter valued at approximately $32,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Logitech International during the fourth quarter worth approximately $49,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Logitech International by 56.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock worth $53,000 after purchasing an additional 233 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Price Performance

Shares of LOGI stock traded up $0.73 during trading hours on Friday, reaching $77.88. 500,647 shares of the company were exchanged, compared to its average volume of 600,909. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.61 and a beta of 0.97. The stock's fifty day moving average is $86.27 and its two-hundred day moving average is $86.22. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65.

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

Logitech International declared that its board has initiated a stock 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares in the company, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

LOGI has been the topic of several recent research reports. StockNews.com cut shares of Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Citigroup decreased 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 report on Monday, April 14th. Wedbush reissued an "outperform" rating and set a $110.00 price objective (down from $125.00) on shares of Logitech International in a research note on Thursday. Barclays boosted their target price on Logitech International from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped 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. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Logitech International has an average rating of "Hold" and an average price target of $88.43.

Logitech International Company 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.