Clark Capital Management Group Inc. Decreases Position in Logitech International S.A. (NASDAQ:LOGI)

Clark Capital Management Group Inc. lowered its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 415,617 shares of the technology company’s stock after selling 12,282 shares during the quarter. Clark Capital Management Group Inc. owned 0.26% of Logitech International worth $34,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Banque Transatlantique SA purchased a new position in Logitech International during the 4th quarter worth approximately $26,000. Sierra Ocean LLC purchased a new position in shares of Logitech International during the fourth quarter worth approximately $27,000. Bessemer Group Inc. increased its holdings in shares of 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 acquiring an additional 308 shares during the period. Exane Asset Management purchased a new stake in Logitech International in the 4th quarter valued at $32,000. Finally, Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 439 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOGI has been the topic of several analyst reports. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Citigroup decreased their price objective on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group raised Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday. Loop Capital reduced their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus price target of $85.71.

Logitech International Trading Up 4.6 %

LOGI stock opened at $81.18 on Friday. The company has a market capitalization of $12.84 billion, a P/E ratio of 19.06, a PEG ratio of 2.61 and a beta of 0.99. The firm has a 50 day simple moving average of $81.29 and a 200-day simple moving average of $85.56. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65.

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, topping the consensus estimate of $0.86 by $0.07. The company had revenue of $1.01 billion during 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 company’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 EPS. On average, research analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its Board of Directors has initiated a stock buyback program 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 programs are typically a sign that the company’s board of directors 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.