Azzad Asset Management Inc. ADV Acquires 3,820 Shares of Logitech International S.A. (NASDAQ:LOGI)

Azzad Asset Management Inc. ADV grew its position in Logitech International S.A. (NASDAQ:LOGI) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,008 shares of the technology company’s stock after purchasing an additional 3,820 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Logitech International were worth $3,039,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LOGI. Banque Transatlantique SA bought a new stake in shares of Logitech International in the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new stake in shares of Logitech International in the 4th quarter valued at $27,000. Bessemer Group Inc. boosted its stake in shares of Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after purchasing an additional 308 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after purchasing an additional 439 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Logitech International in the 4th quarter valued at $49,000. 45.76% of the stock is owned by institutional investors.

Logitech International Trading Down 2.8%

LOGI opened at $85.00 on Friday. The company’s fifty day moving average price is $80.17 and its two-hundred day moving average price is $86.44. Logitech International S.A. has a 1-year low of $64.73 and a 1-year high of $105.65. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.61 and a beta of 0.96.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 earnings per share 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 firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal 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 reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LOGI shares. Citigroup reduced their price objective on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Bank of America upgraded 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 research report on Friday, April 4th. Loop Capital dropped their target price on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a research report on Tuesday, May 6th. Finally, UBS Group upgraded shares of Logitech International from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Logitech International has an average rating of “Hold” and an average price target of $84.29.

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.