Franklin Resources Inc. Buys 13,364 Shares of Logitech International S.A. (NASDAQ:LOGI)

Franklin Resources Inc. increased its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 370,521 shares of the technology company’s stock after purchasing an additional 13,364 shares during the quarter. Franklin Resources Inc. owned 0.23% of Logitech International worth $30,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sierra Ocean LLC bought a new position in Logitech International during the fourth quarter valued at $27,000. Exane Asset Management bought a new position in Logitech International during the 4th quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB grew its holdings in Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after purchasing an additional 233 shares during the last quarter. Allianz SE purchased a new stake in Logitech International in the 4th quarter worth about $72,000. Finally, Global Retirement Partners LLC lifted its stake in Logitech International by 109.4% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, the insider now directly owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

Logitech International Stock Performance

Shares of LOGI opened at $69.30 on Friday. The company has a market capitalization of $10.96 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.61 and a beta of 0.97. The business’s 50-day moving average is $95.10 and its two-hundred day moving average is $87.91. Logitech International S.A. has a fifty-two week low of $67.20 and a fifty-two week high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Analysts forecast 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 authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Bank of America raised shares of Logitech International from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $73.00 in a research note on Friday. Citigroup lifted their price objective on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $97.71.

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.