United Services Automobile Association Invests $4.13 Million in Logitech International S.A. (NASDAQ:LOGI)

United Services Automobile Association acquired a new stake in Logitech International S.A. (NASDAQ:LOGI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,191 shares of the technology company’s stock, valued at approximately $4,133,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new stake in shares of Logitech International in the 4th quarter valued at approximately $27,000. Exane Asset Management purchased a new position in Logitech International in the fourth quarter worth $32,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Logitech International by 56.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after acquiring an additional 233 shares during the period. Global Retirement Partners LLC boosted its position in shares of Logitech International by 109.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock worth $99,000 after purchasing an additional 631 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Logitech International by 115,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after purchasing an additional 1,153 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Down 1.0 %

Shares of NASDAQ:LOGI opened at $89.97 on Monday. The company has a market capitalization of $14.23 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.61 and a beta of 0.73. Logitech International S.A. has a 52-week low of $74.72 and a 52-week high of $105.65. The stock’s fifty day simple moving average is $95.86 and its 200-day simple moving average is $87.98.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its board has authorized 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other 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 transaction of $28,980.00. Following the sale, the insider now owns 7,348 shares in the company, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of research analyst reports. Wedbush raised shares of Logitech International from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $125.00 in a report on Friday, March 7th. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price target on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $100.14.

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.