Raymond James Financial Inc. Acquires New Stake in Logitech International S.A. (NASDAQ:LOGI)

Raymond James Financial Inc. purchased a new position in Logitech International S.A. (NASDAQ:LOGI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,546 shares of the technology company's stock, valued at approximately $4,162,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LOGI. Advisory Services Network LLC bought a new position in Logitech International in the 4th quarter worth $661,000. Renaissance Technologies LLC boosted its stake in shares of Logitech International by 1.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,833,708 shares of the technology company's stock worth $151,006,000 after acquiring an additional 18,100 shares during the period. Employees Retirement System of Texas grew its position in shares of Logitech International by 89.2% during the fourth quarter. Employees Retirement System of Texas now owns 1,232 shares of the technology company's stock worth $1,015,000 after purchasing an additional 581 shares in the last quarter. Bank of Montreal Can raised its stake in Logitech International by 116.0% during the 4th quarter. Bank of Montreal Can now owns 206,047 shares of the technology company's stock valued at $17,034,000 after purchasing an additional 110,668 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Logitech International by 9.4% in the 4th quarter. Cerity Partners LLC now owns 5,608 shares of the technology company's stock worth $481,000 after purchasing an additional 483 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Up 1.8 %

LOGI traded up $1.36 on Thursday, hitting $76.75. The company had a trading volume of 341,941 shares, compared to its average volume of 602,975. The business's fifty day simple moving average is $84.15 and its 200 day simple moving average is $85.99. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The company has a market cap of $12.14 billion, a PE ratio of 18.03, a PEG ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. The business had revenue of $1.01 billion during 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%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $0.99 EPS. On average, analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has authorized a share buyback program on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

LOGI has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday. Wedbush reaffirmed an "outperform" rating and set a $110.00 target price (down from $125.00) on shares of Logitech International in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Logitech International presently has a consensus rating of "Hold" and a consensus target price of $86.14.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

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.