Assenagon Asset Management S.A. Sells 558,614 Shares of Logitech International S.A. (NASDAQ:LOGI)

Assenagon Asset Management S.A. reduced its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 886,705 shares of the technology company's stock after selling 558,614 shares during the quarter. Assenagon Asset Management S.A. owned 0.56% of Logitech International worth $74,080,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Logitech International by 87.3% in the first quarter. Farther Finance Advisors LLC now owns 940 shares of the technology company's stock valued at $80,000 after purchasing an additional 438 shares during the period. Vest Financial LLC acquired a new stake in Logitech International in the first quarter valued at $212,000. Parallel Advisors LLC raised its holdings in Logitech International by 20.5% in the first quarter. Parallel Advisors LLC now owns 1,425 shares of the technology company's stock valued at $121,000 after acquiring an additional 242 shares in the last quarter. GAMMA Investing LLC raised its holdings in Logitech International by 8,341.0% in the first quarter. GAMMA Investing LLC now owns 12,155 shares of the technology company's stock valued at $1,026,000 after acquiring an additional 12,011 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Logitech International by 4,955.2% in the first quarter. Versant Capital Management Inc now owns 2,932 shares of the technology company's stock valued at $247,000 after acquiring an additional 2,874 shares in the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Trading Down 2.8%

LOGI traded down $2.45 on Friday, reaching $85.00. The company had a trading volume of 530,207 shares, compared to its average volume of 635,065. The company has a fifty day moving average of $80.17 and a 200-day moving average of $86.54. The company has a market capitalization of $13.44 billion, a P/E ratio of 19.95, a PEG ratio of 2.61 and a beta of 0.96. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. Logitech International's revenue was down .1% compared to the same quarter last year. Research analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its board has approved a stock repurchase program on Wednesday, March 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the technology company to repurchase 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 stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LOGI. UBS Group raised shares of Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barclays dropped their price objective on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen cut shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Logitech International in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $84.29.

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.