Clark Capital Management Group Inc. Grows Position in 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 fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 721,846 shares of the technology company’s stock after purchasing an additional 342,623 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Logitech International were worth $72,343,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Logitech International by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company’s stock valued at $678,420,000 after purchasing an additional 75,256 shares during the period. Barclays PLC boosted its stake in shares of Logitech International by 16.0% during the fourth quarter. Barclays PLC now owns 3,275,064 shares of the technology company’s stock valued at $328,227,000 after purchasing an additional 451,357 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Logitech International by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock valued at $304,151,000 after purchasing an additional 906,807 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Logitech International by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock valued at $288,430,000 after purchasing an additional 74,702 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Logitech International by 7.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock valued at $297,504,000 after purchasing an additional 191,828 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Trading Down 1.5%

LOGI opened at $109.23 on Wednesday. The stock has a fifty day simple moving average of $104.90 and a two-hundred day simple moving average of $99.95. The company has a market cap of $16.01 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.82 and a beta of 1.13. Logitech International S.A. has a 12-month low of $83.32 and a 12-month high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share. On average, analysts predict that Logitech International S.A. will post 5.16 EPS for the current year.

Analyst Upgrades and Downgrades

LOGI has been the subject of a number of analyst reports. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Barclays raised their price target on Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a research note on Wednesday, May 6th. Finally, Citigroup raised their price target on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Logitech International presently has an average rating of “Hold” and an average target price of $113.67.

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.