Logitech International S.A. (NASDAQ:LOGI) Shares Purchased by Aviva PLC

Aviva PLC raised its position in Logitech International S.A. (NASDAQ:LOGI) by 55.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 592,709 shares of the technology company’s stock after purchasing an additional 210,789 shares during the period. Aviva PLC owned about 0.36% of Logitech International worth $34,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Logitech International by 233.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 551 shares of the technology company’s stock valued at $34,000 after purchasing an additional 386 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Logitech International in the 1st quarter valued at about $35,000. Belpointe Asset Management LLC purchased a new position in shares of Logitech International during the 4th quarter worth about $51,000. State of Wyoming purchased a new position in shares of Logitech International during the 4th quarter worth about $75,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Logitech International by 15.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the technology company’s stock worth $135,000 after acquiring an additional 293 shares during the period. 38.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOGI has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Logitech International from $71.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. Loop Capital increased their price objective on shares of Logitech International from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $57.00 price objective on shares of Logitech International in a report on Thursday, July 20th. Citigroup raised their price target on shares of Logitech International from $70.00 to $75.00 in a report on Wednesday, July 26th. Finally, StockNews.com started coverage on shares of Logitech International in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $70.25.

Logitech International Stock Performance

Shares of LOGI traded up $0.53 during midday trading on Friday, hitting $69.35. 52,589 shares of the stock traded hands, compared to its average volume of 625,558. Logitech International S.A. has a 1-year low of $41.81 and a 1-year high of $73.70. The firm has a market capitalization of $10.97 billion, a PE ratio of 34.24 and a beta of 0.87. The business’s 50 day moving average price is $64.57 and its two-hundred day moving average price is $60.64.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, July 24th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.15. Logitech International had a net margin of 7.50% and a return on equity of 19.75%. The company had revenue of $974.50 million during the quarter, compared to the consensus estimate of $916.69 million. As a group, equities research analysts forecast that Logitech International S.A. will post 2.49 EPS for the current fiscal year.

Logitech International announced that its board has authorized a stock repurchase program on Wednesday, June 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire up to 10.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Logitech International Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.