Logitech International S.A. (NASDAQ:LOGI) Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its stake in Logitech International S.A. (NASDAQ:LOGI) by 74.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,839 shares of the technology company’s stock after buying an additional 35,814 shares during the quarter. Korea Investment CORP’s holdings in Logitech International were worth $6,942,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Barclays PLC raised its stake in shares of Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after acquiring an additional 1,967,133 shares during the period. Vontobel Holding Ltd. raised its position 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Logitech International by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock worth $215,127,000 after purchasing an additional 146,338 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Logitech International by 2,315.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after buying an additional 1,385,493 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock valued at $61,978,000 after buying an additional 655,025 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 300 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Logitech International Trading Down 2.9 %

Shares of LOGI stock opened at $84.41 on Tuesday. The company has a market cap of $13.35 billion, a P/E ratio of 19.81, a PEG ratio of 2.61 and a beta of 0.73. The firm has a fifty day moving average price of $96.09 and a 200 day moving average price of $88.16. Logitech International S.A. has a 12 month low of $74.72 and a 12 month high of $105.65.

Logitech International (NASDAQ:LOGI) last released 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, equities analysts forecast that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its board has approved a share buyback program on Wednesday, March 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup raised their target price on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $125.00 in a report on Friday, March 7th. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Bank of America restated an “underperform” rating and issued a $90.00 price target (down previously from $105.00) on shares of Logitech International in a research note on Friday, February 28th. Finally, Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.14.

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.