Summit Global Investments Has $2.62 Million Stake in Logitech International S.A. (NASDAQ:LOGI)

Summit Global Investments increased its stake in Logitech International S.A. (NASDAQ:LOGI) by 119.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,809 shares of the technology company’s stock after purchasing an additional 17,328 shares during the period. Summit Global Investments’ holdings in Logitech International were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in LOGI. PNC Financial Services Group Inc. increased its position in shares of Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after purchasing an additional 127 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of Logitech International by 0.4% in the third quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after buying an additional 170 shares in the last quarter. Tealwood Asset Management Inc. grew its position in shares of Logitech International by 1.2% in the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock valued at $1,231,000 after acquiring an additional 175 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Logitech International by 16.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company’s stock worth $123,000 after purchasing an additional 213 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Logitech International by 3.0% during the 3rd quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company’s stock worth $685,000 after acquiring an additional 225 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction 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 owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on LOGI. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Citigroup raised their price objective on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Barclays lifted their price target on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.14.

Logitech International Stock Performance

NASDAQ:LOGI opened at $89.97 on Friday. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $105.65. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.61 and a beta of 0.73. The stock has a fifty day moving average price of $95.86 and a 200-day moving average price of $87.97.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. Research analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its board has approved a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often 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.