Raymond James Financial Inc. Takes $4.16 Million Position in Logitech International S.A. (NASDAQ:LOGI)

Raymond James Financial Inc. acquired a new position in shares of Logitech International S.A. (NASDAQ:LOGI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 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 also recently bought and sold shares of LOGI. Sierra Ocean LLC purchased a new position in Logitech International in the fourth quarter worth $27,000. Exane Asset Management purchased a new position in Logitech International during the 4th quarter worth $32,000. MassMutual Private Wealth & Trust FSB increased its position in Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after buying an additional 233 shares in the last quarter. Global Retirement Partners LLC raised its stake in Logitech International by 109.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock valued at $99,000 after buying an additional 631 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its holdings in Logitech International by 115,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,153 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insider Transactions at Logitech International

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred on Monday, February 3rd. The stock was 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 of the company’s stock, valued at $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LOGI. Wedbush raised shares of Logitech International from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $100.00 to $125.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on shares of Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays lifted their price objective on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Bank of America reissued an “underperform” rating and set a $90.00 target price (down previously from $105.00) on shares of Logitech International in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and a consensus price target of $100.14.

Logitech International Price Performance

Logitech International stock opened at $91.02 on Thursday. Logitech International S.A. has a 12 month low of $74.72 and a 12 month high of $105.65. The stock has a market capitalization of $14.39 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. The business has a 50 day simple moving average of $96.14 and a 200-day simple moving average of $88.10.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, equities research analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its board has authorized a share repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.