Two Sigma Investments LP Sells 54,959 Shares of Logitech International S.A. (NASDAQ:LOGI)

Two Sigma Investments LP reduced its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 43.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,325 shares of the technology company's stock after selling 54,959 shares during the quarter. Two Sigma Investments LP's holdings in Logitech International were worth $5,791,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in Logitech International by 4,876.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company's stock worth $13,798,000 after acquiring an additional 164,185 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Logitech International by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock valued at $28,913,000 after purchasing an additional 18,986 shares during the last quarter. US Bancorp DE increased its position in shares of Logitech International by 5.6% during the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock valued at $687,000 after purchasing an additional 446 shares during the last quarter. Barclays PLC increased its position in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock valued at $451,426,000 after purchasing an additional 1,967,133 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Logitech International during the 4th quarter valued at about $246,000. 45.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on LOGI shares. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and reduced their price objective for the company from $90.00 to $73.00 in a research report on Friday, April 4th. JPMorgan Chase & Co. reduced their price objective on Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Loop Capital reduced their price objective on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. UBS Group upgraded Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Logitech International in a research 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $84.29.

Logitech International Trading Down 2.8%

NASDAQ LOGI traded down $2.42 on Friday, hitting $82.67. The company's stock had a trading volume of 829,184 shares, compared to its average volume of 630,003. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65. The company's 50-day simple moving average is $79.05 and its 200 day simple moving average is $86.06. The firm has a market cap of $13.07 billion, a P/E ratio of 19.41, a PEG ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data 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. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the business posted $0.99 EPS. The business's revenue was down .1% on a year-over-year basis. On average, research analysts forecast that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its board has approved a share buyback plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.