ProShare Advisors LLC Purchases New Shares in Logitech International S.A. (NASDAQ:LOGI)

ProShare Advisors LLC purchased a new position in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,281 shares of the technology company's stock, valued at approximately $1,017,000.

A number of other large investors have also bought and sold shares of the stock. Barclays PLC increased its stake in shares of Logitech International by 8.2% during the fourth quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock valued at $448,409,000 after buying an additional 414,236 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock valued at $402,802,000 after buying an additional 1,240,478 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Logitech International by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company's stock valued at $215,127,000 after buying an additional 146,338 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Logitech International by 13.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock valued at $188,254,000 after buying an additional 266,167 shares during the period. Finally, Norges Bank purchased a new position in shares of Logitech International during the fourth quarter valued at approximately $156,888,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Performance

NASDAQ LOGI traded up $1.70 on Tuesday, reaching $85.54. 355,477 shares of the stock traded hands, compared to its average volume of 628,050. The company has a fifty day moving average price of $79.58 and a 200-day moving average price of $85.93. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.61 and a beta of 0.99. 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 issued its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) 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 company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm's quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its board has initiated a share repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LOGI shares. Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen cut Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and reduced their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. Finally, Loop Capital reduced their price target on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $84.29.

Logitech International 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.