Raiffeisen Bank International AG Acquires New Position in Logitech International S.A. (NASDAQ:LOGI)

Raiffeisen Bank International AG acquired a new stake in Logitech International S.A. (NASDAQ:LOGI) in the 4th quarter, Holdings Channel reports. The fund acquired 720 shares of the technology company’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in Logitech International by 4,876.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock worth $13,798,000 after buying an additional 164,185 shares during the period. 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 increased its holdings in Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after buying an additional 1,967,133 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in Logitech International in the 4th quarter worth approximately $246,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LOGI shares. Loop Capital dropped their price objective on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. UBS Group upgraded Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Logitech International presently has an average rating of “Hold” and an average price target of $85.71.

Logitech International Stock Down 0.1%

NASDAQ LOGI opened at $86.50 on Tuesday. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $105.65. The business’s fifty day simple moving average is $80.05 and its 200-day simple moving average is $85.78. The firm has a market cap of $13.68 billion, a PE ratio of 20.31, a P/E/G ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI) last issued 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 firm had revenue of $1.01 billion for 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%. Logitech International’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. Research analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management 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.