Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,193 shares of the technology company's stock after selling 6,133 shares during the period. Logan Capital Management Inc.'s holdings in Logitech International were worth $5,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Logitech International Price Performance

Logitech International stock traded down $1.21 during trading on Friday, reaching $86.55. 1,338,723 shares of the company were exchanged, compared to its average volume of 627,990. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65. The company has a market capitalization of $13.69 billion, a P/E ratio of 20.32, a PEG ratio of 2.61 and a beta of 0.99. The stock's 50 day simple moving average is $80.13 and its two-hundred day simple moving average is $85.71.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on LOGI shares. Wedbush reiterated an "outperform" rating and set a $110.00 price target (down previously from $125.00) on shares of Logitech International in a research note on Thursday, April 24th. Loop Capital decreased their target price 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. Barclays decreased their target price on Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and decreased their target price for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Finally, Citigroup decreased their target price 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. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $85.71.

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.