GAMMA Investing LLC Has $1.03 Million Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

GAMMA Investing LLC boosted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 8,341.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 12,155 shares of the technology company’s stock after acquiring an additional 12,011 shares during the period. GAMMA Investing LLC’s holdings in Logitech International were worth $1,026,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Sierra Ocean LLC bought a new position in shares of Logitech International during the fourth quarter worth $27,000. Atria Wealth Solutions Inc. bought a new stake in Logitech International during the 4th quarter worth about $246,000. Kestra Investment Management LLC bought a new stake in shares of Logitech International in the 4th quarter valued at about $297,000. Global Retirement Partners LLC raised its holdings in shares of Logitech International by 109.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock valued at $99,000 after purchasing an additional 631 shares during the period. Finally, Private Advisor Group LLC raised its holdings in shares of Logitech International by 47.4% in the 4th quarter. Private Advisor Group LLC now owns 6,103 shares of the technology company’s stock valued at $503,000 after purchasing an additional 1,962 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LOGI. Bank of America raised shares of Logitech International from an “underperform” rating to a “neutral” rating and dropped their target price for the company from $90.00 to $73.00 in a report on Friday, April 4th. Barclays dropped their target price on shares of Logitech International from $108.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Citigroup dropped their target price on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Logitech International in a report on Wednesday, May 21st. Finally, UBS Group raised shares of Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.29.

Logitech International Stock Up 2.3%

Logitech International stock opened at $86.95 on Tuesday. The stock has a market cap of $13.75 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.61 and a beta of 0.96. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65. The company’s 50-day moving average price is $80.60 and its two-hundred day moving average price is $86.58.

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

Logitech International declared that its Board of Directors has approved a stock buyback program on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are 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.