Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 33.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,277,419 shares of the technology company's stock after selling 645,113 shares during the period. Deutsche Bank AG owned 0.81% of Logitech International worth $105,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in Logitech International in the 4th quarter worth about $26,000. Sierra Ocean LLC bought a new position in shares of Logitech International during the 4th quarter valued at about $27,000. Bessemer Group Inc. increased its position in shares of 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 bought a new position in shares of Logitech International during the 4th quarter valued at about $32,000. Finally, Tower Research Capital LLC TRC increased its position in shares of 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. Hedge funds and other institutional investors own 45.76% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on LOGI shares. Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Citigroup decreased their price target on Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wedbush reiterated an "outperform" rating and issued a $110.00 price objective (down from $125.00) on shares of Logitech International in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut 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. Finally, Barclays cut their price objective 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. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $85.71.

Logitech International Stock Down 2.0%

Logitech International stock traded down $1.77 during midday trading on Friday, reaching $86.00. 597,337 shares of the stock traded hands, compared to its average volume of 624,316. The stock's fifty day moving average is $80.24 and its 200-day moving average is $85.70. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65. The stock has a market cap of $13.60 billion, a P/E ratio of 20.18, a PEG ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $0.99 EPS. 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 of Directors has authorized a stock repurchase program on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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.