QRG Capital Management Inc. Sells 7,531 Shares of Logitech International S.A. (NASDAQ:LOGI)

QRG Capital Management Inc. trimmed its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,681 shares of the technology company's stock after selling 7,531 shares during the quarter. QRG Capital Management Inc.'s holdings in Logitech International were worth $2,590,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Barclays PLC raised its stake in Logitech International by 8.2% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Logitech International by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company's stock valued at $341,610,000 after purchasing an additional 85,278 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Logitech International by 6.0% in 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 purchasing an additional 146,338 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Logitech International by 13.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock worth $188,254,000 after buying an additional 266,167 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Logitech International during the 4th quarter worth about $156,888,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Trading Down 0.8%

NASDAQ LOGI traded down $0.69 during midday trading on Thursday, hitting $84.51. The company had a trading volume of 398,052 shares, compared to its average volume of 635,008. The firm has a 50-day moving average price of $81.03 and a 200-day moving average price of $86.55. The company has a market capitalization of $13.37 billion, a PE ratio of 20.36, a P/E/G ratio of 17.71 and a beta of 0.96. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.07. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the business earned $0.99 earnings per share. Logitech International's revenue was down .1% on a year-over-year basis. On average, equities analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the technology company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

LOGI has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered 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. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and dropped their price target for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Loop Capital decreased their price objective on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Citigroup lowered their price objective on Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Wedbush reissued an "outperform" rating and issued a $100.00 target price on shares of Logitech International in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.