Logitech International S.A. (NASDAQ:LOGI) Short Interest Down 22.6% in May

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 3,490,000 shares, a decrease of 22.6% from the April 30th total of 4,510,000 shares. Based on an average daily trading volume, of 850,000 shares, the days-to-cover ratio is presently 4.1 days. Approximately 2.7% of the company's stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Banque Transatlantique SA purchased a new stake in Logitech International in the 4th quarter worth approximately $26,000. Sierra Ocean LLC bought a new position in shares of Logitech International in the fourth quarter worth approximately $27,000. Bessemer Group Inc. increased its stake in shares of Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after purchasing an additional 308 shares in the last quarter. Quarry LP purchased a new stake in shares of Logitech International in the first quarter worth $33,000. Finally, Exane Asset Management bought a new stake in shares of Logitech International during the 4th quarter valued at $32,000. Institutional investors own 45.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LOGI shares. Wall Street Zen cut shares of Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and dropped their price target for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. Wedbush restated an "outperform" rating and issued a $100.00 price target on shares of Logitech International in a research note on Wednesday, May 21st. 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. Finally, UBS Group upgraded shares of Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $84.29.

Logitech International Stock Up 1.1%

LOGI traded up $0.94 during mid-day trading on Friday, reaching $85.25. 389,543 shares of the company traded hands, compared to its average volume of 629,395. The company's fifty day moving average price is $78.70 and its 200-day moving average price is $86.15. The stock has a market capitalization of $13.48 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.61 and a beta of 0.96. Logitech International has a 52-week low of $64.73 and a 52-week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, sell-side analysts forecast that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its board has approved a stock repurchase program on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

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.