Logitech International S.A. (NASDAQ:LOGI) Shares Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC boosted its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 537.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,671 shares of the technology company's stock after purchasing an additional 12,371 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Logitech International were worth $1,208,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LOGI. Sierra Ocean LLC purchased a new stake in shares of Logitech International during the 4th quarter worth approximately $27,000. Bessemer Group Inc. lifted its position in Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after acquiring an additional 308 shares during the last quarter. Exane Asset Management acquired a new position in Logitech International in the fourth quarter valued at $32,000. Tower Research Capital LLC TRC grew its holdings in shares of Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after purchasing an additional 439 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Logitech International in the 4th quarter valued at about $49,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Stock Performance

LOGI opened at $77.64 on Thursday. The stock has a market capitalization of $12.28 billion, a PE ratio of 18.23, a P/E/G ratio of 2.61 and a beta of 0.99. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65. The company's 50 day simple moving average is $81.62 and its 200 day simple moving average is $85.64.

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

Logitech International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group upgraded Logitech International from a "neutral" rating to a "buy" rating in a research note on Wednesday. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and cut their target price for the company from $90.00 to $73.00 in a report on Friday, April 4th. Morgan Stanley upgraded shares of Logitech International from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Finally, Citigroup dropped 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. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Logitech International presently has an average rating of "Hold" and an average price target of $85.71.

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.

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