LPL Financial LLC Has $3.30 Million Stock Position in Logitech International S.A. (NASDAQ:LOGI)

LPL Financial LLC lifted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 122.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 40,115 shares of the technology company’s stock after acquiring an additional 22,122 shares during the period. 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 recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after buying an additional 1,967,133 shares during the period. Vontobel Holding Ltd. increased its stake in Logitech International by 34.2% in the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Logitech International by 6.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock valued at $215,127,000 after acquiring an additional 146,338 shares during the period. Assenagon Asset Management S.A. lifted its position in Logitech International by 2,315.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after acquiring an additional 1,385,493 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Logitech International by 700.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after acquiring an additional 655,025 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 1.8 %

Shares of Logitech International stock opened at $71.67 on Friday. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65. The firm has a market capitalization of $11.33 billion, a P/E ratio of 16.82, a P/E/G ratio of 2.61 and a beta of 0.97. The business has a fifty day simple moving average of $91.42 and a two-hundred day simple moving average of $87.10.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Analysts predict 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 plan on Wednesday, March 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays raised their price target on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.71.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares of the company’s stock, valued at $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.