DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Decreases Stake in Logitech International S.A. (NASDAQ:LOGI)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 56.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 611,589 shares of the technology company's stock after selling 807,777 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.39% of Logitech International worth $50,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cetera Investment Advisers boosted its position in shares of Logitech International by 5.0% in the fourth quarter. Cetera Investment Advisers now owns 18,241 shares of the technology company's stock worth $1,502,000 after purchasing an additional 862 shares during the period. Banque Transatlantique SA bought a new position in Logitech International in the 4th quarter worth approximately $26,000. BLI Banque de Luxembourg Investments purchased a new stake in Logitech International during the 4th quarter valued at approximately $5,217,000. Ameriprise Financial Inc. lifted its holdings in shares of Logitech International by 505.9% in the fourth quarter. Ameriprise Financial Inc. now owns 296,759 shares of the technology company's stock worth $24,433,000 after buying an additional 247,779 shares in the last quarter. Finally, AXA S.A. boosted its position in shares of Logitech International by 12.0% during the fourth quarter. AXA S.A. now owns 447,257 shares of the technology company's stock worth $36,832,000 after acquiring an additional 47,764 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Stock Up 0.8%

NASDAQ:LOGI traded up $0.69 during trading hours on Wednesday, reaching $87.65. 439,957 shares of the company's stock were exchanged, compared to its average volume of 621,953. Logitech International S.A. has a 1-year low of $64.73 and a 1-year high of $105.65. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.61 and a beta of 0.99. The company has a 50-day moving average of $80.57 and a 200 day moving average of $85.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Research analysts forecast that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits 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 board believes its shares are undervalued.

Wall Street Analyst Weigh In

LOGI has been the subject of a number of research reports. Bank of America upgraded 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 report on Friday, April 4th. Kepler Capital Markets upgraded shares of Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Wedbush reaffirmed an "outperform" rating and set a $110.00 target price (down previously from $125.00) on shares of Logitech International in a research note on Thursday, April 24th. UBS Group raised shares of Logitech International from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $85.71.

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.