Wealth Enhancement Advisory Services LLC Increases Holdings in Logitech International S.A. (NASDAQ:LOGI)

Wealth Enhancement Advisory Services LLC grew its stake in Logitech International S.A. (NASDAQ:LOGI) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,161 shares of the technology company’s stock after acquiring an additional 120 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Logitech International were worth $507,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Logitech International by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company’s stock valued at $28,913,000 after purchasing an additional 18,986 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Logitech International by 5.6% during the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock valued at $687,000 after purchasing an additional 446 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Logitech International during the fourth quarter valued at $246,000. Raymond James Financial Inc. bought a new stake in Logitech International in the 4th quarter worth about $4,162,000. Finally, Fox Run Management L.L.C. purchased a new position in Logitech International in the 4th quarter worth about $1,266,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Price Performance

Shares of LOGI stock opened at $87.45 on Friday. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.61 and a beta of 0.96. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65. The firm has a fifty day moving average price of $79.78 and a 200-day moving average price of $86.41.

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. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Logitech International’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Equities research analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its board has approved a share repurchase 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 reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports 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. Citigroup cut their target price on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their price target on Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Barclays cut their price objective on Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.29.

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.