Logitech International S.A. (NASDAQ:LOGI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,165 shares of the technology company's stock after selling 16,540 shares during the quarter. BNP Paribas Financial Markets' holdings in Logitech International were worth $3,719,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position 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 valued at $13,798,000 after acquiring an additional 164,185 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Logitech International by 5.7% in 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 buying an additional 18,986 shares during the period. US Bancorp DE increased its holdings in Logitech International by 5.6% in the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock worth $687,000 after buying an additional 446 shares during the period. Barclays PLC grew its stake 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 worth $451,426,000 after purchasing an additional 1,967,133 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Logitech International during the 4th quarter worth approximately $246,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Stock Performance

Shares of LOGI traded up $0.14 during trading hours on Tuesday, hitting $86.64. The stock had a trading volume of 110,585 shares, compared to its average volume of 625,301. The firm has a market cap of $13.70 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.61 and a beta of 0.99. The company's fifty day simple moving average is $80.05 and its 200 day simple moving average is $85.78. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.99 EPS. The business's quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict 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 share buyback program on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LOGI. Wedbush reaffirmed an "outperform" rating and set a $110.00 price objective (down previously from $125.00) on shares of Logitech International in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Finally, Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and cut their price objective for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $85.71.

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.