Clark Capital Management Group Inc. Buys 342,623 Shares of Logitech International S.A. $LOGI

Clark Capital Management Group Inc. grew its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 90.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 721,846 shares of the technology company’s stock after acquiring an additional 342,623 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Logitech International were worth $72,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in shares of Logitech International by 43.3% during the fourth quarter. Park Avenue Securities LLC now owns 28,846 shares of the technology company’s stock valued at $2,891,000 after acquiring an additional 8,717 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Logitech International by 28.2% during the third quarter. Russell Investments Group Ltd. now owns 339,790 shares of the technology company’s stock valued at $37,015,000 after acquiring an additional 74,772 shares in the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Logitech International by 8.7% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock valued at $26,777,000 after acquiring an additional 20,866 shares in the last quarter. AMJ Financial Wealth Management bought a new position in shares of Logitech International during the third quarter valued at $3,294,000. Finally, Willis Investment Counsel increased its holdings in shares of Logitech International by 40.0% during the fourth quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock valued at $4,284,000 after acquiring an additional 12,221 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group downgraded Logitech International from a “buy” rating to a “neutral” rating in a report on Tuesday, March 17th. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of Logitech International in a report on Wednesday, May 6th. Citigroup lifted their price objective on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Finally, Barclays lifted their price objective on Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.67.

Logitech International Price Performance

NASDAQ LOGI opened at $109.23 on Wednesday. The business’s fifty day moving average price is $104.90 and its 200-day moving average price is $99.95. The stock has a market capitalization of $16.01 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.82 and a beta of 1.13. Logitech International S.A. has a 1-year low of $83.32 and a 1-year high of $129.66.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. Equities research analysts anticipate that Logitech International S.A. will post 5.16 EPS for the current year.

About Logitech International

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.