Employees Retirement System of Texas Buys 581 Shares of Logitech International S.A. (NASDAQ:LOGI)

Employees Retirement System of Texas raised its stake in Logitech International S.A. (NASDAQ:LOGI) by 89.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,232 shares of the technology company’s stock after acquiring an additional 581 shares during the period. Employees Retirement System of Texas’ holdings in Logitech International were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in Logitech International in the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new stake in Logitech International in the 4th quarter valued at $27,000. Bessemer Group Inc. boosted its holdings in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after purchasing an additional 308 shares during the period. Exane Asset Management bought a new stake in Logitech International in the 4th quarter valued at $32,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Logitech International by 975.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock worth $40,000 after acquiring an additional 439 shares during the period. 45.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on LOGI shares. UBS Group raised shares of Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Loop Capital reduced their price objective on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. Bank of America raised shares of Logitech International from an “underperform” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.29.

Logitech International Stock Down 3.1%

Shares of Logitech International stock opened at $83.84 on Tuesday. The stock has a market capitalization of $13.26 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. The company has a 50-day simple moving average of $79.58 and a 200 day simple moving average of $85.93. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65.

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

Logitech International announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.