Occudo Quantitative Strategies LP Purchases 2,689 Shares of Logitech International S.A. (NASDAQ:LOGI)

Occudo Quantitative Strategies LP lifted its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,204 shares of the technology company’s stock after acquiring an additional 2,689 shares during the period. Occudo Quantitative Strategies LP’s holdings in Logitech International were worth $1,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its position in shares of Logitech International by 64.2% during 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. Norges Bank bought a new stake in shares of Logitech International during the 4th quarter valued at $156,888,000. Assenagon Asset Management S.A. lifted its stake in shares of Logitech International by 2,315.9% during 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 buying an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after buying an additional 1,240,478 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Logitech International by 700.1% during the 4th 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. Institutional investors own 45.76% of the company’s stock.

Analyst Upgrades and Downgrades

LOGI has been the topic of a number of analyst reports. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Loop Capital lowered their target price on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a research note on Tuesday, May 6th. Citigroup decreased their price target on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $85.71.

Logitech International Stock Up 7.0%

Logitech International stock opened at $86.23 on Tuesday. The company’s 50-day moving average price is $80.76 and its 200-day moving average price is $85.65. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65. The company has a market cap of $13.64 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. As a group, sell-side analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Logitech International Company Profile

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.