Public Employees Retirement System of Ohio Has $14.88 Million Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Public Employees Retirement System of Ohio increased its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 179,734 shares of the technology company’s stock after buying an additional 2,362 shares during the period. Public Employees Retirement System of Ohio’s holdings in Logitech International were worth $14,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LOGI. Vise Technologies Inc. acquired a new position in Logitech International during the 4th quarter valued at about $213,000. Novem Group acquired a new position in Logitech International during the 4th quarter valued at about $812,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Logitech International by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company’s stock valued at $341,610,000 after purchasing an additional 85,278 shares during the period. USS Investment Management Ltd lifted its position in Logitech International by 30.2% during the 4th quarter. USS Investment Management Ltd now owns 15,283 shares of the technology company’s stock valued at $1,263,000 after purchasing an additional 3,542 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in Logitech International during the 4th quarter valued at about $2,678,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Stock Performance

NASDAQ LOGI opened at $83.84 on Monday. The business has a 50 day simple moving average of $79.74 and a 200 day simple moving average of $85.90. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.99 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

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

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of research reports. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. cut their target price on shares of Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Barclays cut their target price on shares of Logitech International from $108.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Finally, Loop Capital cut their price target on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $84.29.

Logitech International 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.