135,106 Shares in Logitech International S.A. (NASDAQ:LOGI) Bought by PDT Partners LLC

PDT Partners LLC purchased a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 135,106 shares of the technology company's stock, valued at approximately $11,156,000. Logitech International accounts for about 1.0% of PDT Partners LLC's portfolio, making the stock its 2nd largest position. PDT Partners LLC owned about 0.09% of Logitech International as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Sierra Ocean LLC purchased a new stake in Logitech International during the fourth quarter worth about $27,000. Bessemer Group Inc. increased 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 worth $27,000 after buying an additional 308 shares during the period. Exane Asset Management acquired a new stake in Logitech International during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its position in Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock valued at $40,000 after buying an additional 439 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Logitech International in the fourth quarter worth $49,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LOGI. Barclays reduced their price objective on Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a research note on Wednesday. Citigroup decreased their price objective on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wedbush restated an "outperform" rating and set a $110.00 target price (down from $125.00) on shares of Logitech International in a research note on Thursday, April 24th. Bank of America upgraded shares of Logitech International from an "underperform" rating to a "neutral" rating and lowered their price target for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $86.14.

Insider Activity

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares of the company's stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company's stock.

Logitech International Stock Performance

Shares of LOGI stock traded up $2.16 during mid-day trading on Friday, hitting $78.15. 883,421 shares of the stock were exchanged, compared to its average volume of 604,627. The stock's fifty day simple moving average is $83.08 and its two-hundred day simple moving average is $85.85. 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 capitalization of $12.36 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.99 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. On average, research analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

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

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.