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

Deutsche Bank AG lessened its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 33.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,277,419 shares of the technology company’s stock after selling 645,113 shares during the quarter. Deutsche Bank AG’s holdings in Logitech International were worth $105,195,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in Logitech International during the 4th quarter worth approximately $26,000. Sierra Ocean LLC purchased a new stake in shares of Logitech International during the fourth quarter worth $27,000. Bessemer Group Inc. raised 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 valued at $27,000 after acquiring an additional 308 shares in the last quarter. Exane Asset Management purchased a new position in Logitech International in the fourth quarter valued at $32,000. Finally, Tower Research Capital LLC TRC grew its stake in Logitech International by 975.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have 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. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Loop Capital decreased their price objective on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a research report on Tuesday, May 6th. Finally, Wedbush restated an “outperform” rating and issued a $110.00 price target (down from $125.00) on shares of Logitech International in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $85.71.

Logitech International Stock Performance

Shares of LOGI stock opened at $80.62 on Friday. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.61 and a beta of 0.99. The stock’s 50-day moving average is $80.99 and its two-hundred day moving average is $85.58.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.86 by $0.07. The company had revenue of $1.01 billion for 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 firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, research analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its board has authorized a share repurchase program on Wednesday, March 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are 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.