State of Tennessee Department of Treasury Buys 15,006 Shares of Logitech International S.A. (NASDAQ:LOGI)

State of Tennessee Department of Treasury lifted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,437 shares of the technology company's stock after purchasing an additional 15,006 shares during the period. State of Tennessee Department of Treasury's holdings in Logitech International were worth $4,342,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Sierra Ocean LLC bought a new position in Logitech International during the fourth quarter worth $27,000. Bessemer Group Inc. boosted its position in shares of Logitech International by 1,339.1% during the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management acquired a new stake in Logitech International during the fourth quarter worth approximately $32,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $40,000 after buying an additional 439 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Logitech International during the 4th quarter worth approximately $49,000. Institutional investors own 45.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LOGI. Morgan Stanley upgraded shares of Logitech International from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $73.00 to $92.00 in a research report on Thursday, January 23rd. Barclays raised their price objective on Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Kepler Capital Markets upgraded shares of Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $88.43.

Logitech International Stock Performance

NASDAQ LOGI traded down $2.84 during trading on Wednesday, hitting $75.37. 1,368,662 shares of the company's stock traded hands, compared to its average volume of 606,480. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.61 and a beta of 0.97. The business has a 50 day moving average of $84.72 and a 200-day moving average of $86.07. 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 issued its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The business's revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts expect that Logitech International S.A. will post 4.21 EPS for the current 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 shares. This repurchase authorization permits the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were 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 in the company, valued at $709,816.80. This represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

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.