APG Asset Management US Inc. Takes $396,000 Position in Logitech International S.A. (NASDAQ:LOGI)

APG Asset Management US Inc. bought a new position in Logitech International S.A. (NASDAQ:LOGI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,788 shares of the technology company’s stock, valued at approximately $396,000.

Several other institutional investors have also recently bought and sold shares of LOGI. Barclays PLC raised its holdings in Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after acquiring an additional 1,967,133 shares during the period. Norges Bank bought a new position in shares of Logitech International during the 4th quarter worth about $156,888,000. Assenagon Asset Management S.A. increased its holdings 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 worth $119,673,000 after purchasing an additional 1,385,493 shares during the period. Vontobel Holding Ltd. increased its holdings 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 worth $402,802,000 after purchasing an additional 1,240,478 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings 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 worth $61,978,000 after purchasing an additional 655,025 shares during the period. Institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

NASDAQ:LOGI opened at $74.20 on Thursday. The firm’s 50 day simple moving average is $92.48 and its 200 day simple moving average is $87.31. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65. The company has a market cap of $11.73 billion, a PE ratio of 17.42, a P/E/G ratio of 2.61 and a beta of 0.97.

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

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LOGI shares. JPMorgan Chase & Co. boosted their price objective on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays boosted their price objective on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wedbush upgraded shares of Logitech International from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $100.00 to $125.00 in a research report on Friday, March 7th. Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $73.00 to $92.00 in a research report on Thursday, January 23rd. Finally, Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Eight investment analysts have rated the stock with 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 an average price target of $97.71.

Insider Buying and Selling at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares of the company’s stock, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.