Azzad Asset Management Inc. ADV Has $3.04 Million Holdings in Logitech International S.A. (NASDAQ:LOGI)

Azzad Asset Management Inc. ADV grew its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 11.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,008 shares of the technology company's stock after purchasing an additional 3,820 shares during the period. Azzad Asset Management Inc. ADV's holdings in Logitech International were worth $3,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Entropy Technologies LP bought a new stake in shares of Logitech International during the 4th quarter worth approximately $314,000. Kestra Private Wealth Services LLC lifted its holdings in shares of Logitech International by 41.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,105 shares of the technology company's stock worth $667,000 after acquiring an additional 2,375 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock worth $402,802,000 after acquiring an additional 1,240,478 shares during the period. Pictet North America Advisors SA lifted its holdings in shares of Logitech International by 8.0% during the 4th quarter. Pictet North America Advisors SA now owns 37,649 shares of the technology company's stock worth $3,117,000 after acquiring an additional 2,774 shares during the period. Finally, Sierra Ocean LLC bought a new stake in shares of Logitech International during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 45.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup cut their price target on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Barclays cut their price target on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Loop Capital dropped their price objective on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Finally, Wedbush reissued an "outperform" rating and issued a $100.00 price objective on shares of Logitech International in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $84.29.

Logitech International Stock Down 2.8%

Shares of LOGI stock traded down $2.45 during trading hours on Friday, hitting $85.00. 530,207 shares of the company's stock traded hands, compared to its average volume of 635,065. The stock's 50 day simple moving average is $80.17 and its 200 day simple moving average is $86.48. The stock has a market cap of $13.44 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.61 and a beta of 0.96. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65.

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

Logitech International declared that its board has initiated a stock buyback plan on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

About Logitech International

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.