Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 70.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,552 shares of the technology company's stock after selling 279,582 shares during the period. Hsbc Holdings PLC owned 0.07% of Logitech International worth $9,825,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LOGI. Janney Montgomery Scott LLC boosted its stake in Logitech International by 4,876.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company's stock worth $13,798,000 after buying an additional 164,185 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $28,913,000 after acquiring an additional 18,986 shares during the period. US Bancorp DE boosted 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 acquiring an additional 446 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Logitech International in the third quarter valued at about $12,597,000. Finally, Barclays PLC increased its position in Logitech International by 64.2% during the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock worth $451,426,000 after purchasing an additional 1,967,133 shares during the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOGI has been the topic of several analyst reports. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and reduced their price target for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Barclays lowered their price target on Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Citigroup reduced their price target on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $86.14.

Logitech International Stock Down 3.6 %

Logitech International stock traded down $2.82 during trading on Wednesday, reaching $75.39. The stock had a trading volume of 1,824,613 shares, compared to its average volume of 603,936. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65. The stock has a market cap of $11.92 billion, a PE ratio of 17.70, a P/E/G ratio of 2.61 and a beta of 0.97. The business has a 50 day moving average price of $84.15 and a 200 day moving average price of $85.99.

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 (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 business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the company earned $0.99 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its board has authorized a stock 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 repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company's stock.

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.