ProShare Advisors LLC Invests $1.02 Million in Logitech International S.A. (NASDAQ:LOGI)

ProShare Advisors LLC acquired a new stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,281 shares of the technology company's stock, valued at approximately $1,017,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in shares of Logitech International during the fourth quarter valued at $26,000. Sierra Ocean LLC acquired a new position in Logitech International during the 4th quarter valued at about $27,000. Bessemer Group Inc. grew its position in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after purchasing an additional 308 shares during the last quarter. Exane Asset Management bought a new position in Logitech International in the 4th quarter worth about $32,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Logitech International by 975.6% in the fourth 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 period. 45.76% of the stock is currently owned by institutional investors.

Logitech International Stock Performance

LOGI traded down $0.85 during trading on Wednesday, reaching $84.68. The company had a trading volume of 92,479 shares, compared to its average volume of 626,702. The firm's 50-day simple moving average is $79.48 and its 200 day simple moving average is $85.93. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 19.89, 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 released its earnings results 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. The business had revenue of $1.01 billion for 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 firm's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. On average, sell-side analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its Board of Directors has approved a stock buyback program on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LOGI shares. Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Logitech International in a report on Wednesday, May 21st. Citigroup reduced their price objective 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 decreased their target price on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.