Two Sigma Advisers LP Cuts Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Two Sigma Advisers LP decreased its position in Logitech International S.A. (NASDAQ:LOGI) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,014 shares of the technology company’s stock after selling 67,820 shares during the quarter. Two Sigma Advisers LP owned approximately 0.26% of Logitech International worth $33,929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LOGI. Barclays PLC grew its position in Logitech International by 8.2% in the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company’s stock worth $448,409,000 after purchasing an additional 414,236 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Logitech International by 34.2% in the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock worth $402,802,000 after buying an additional 1,240,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Logitech International by 6.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock valued at $215,127,000 after acquiring an additional 146,338 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Logitech International by 13.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company’s stock valued at $188,254,000 after acquiring an additional 266,167 shares during the last quarter. Finally, Norges Bank bought a new stake in Logitech International during the fourth quarter worth $156,888,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Up 0.1%

NASDAQ LOGI opened at $86.55 on Wednesday. The company has a market cap of $13.69 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $105.65. The firm’s 50-day simple moving average is $80.00 and its two-hundred day simple moving average is $85.79.

Logitech International (NASDAQ:LOGI) last posted its quarterly 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 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%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, equities research analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Logitech International from $96.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Loop Capital reduced their price target 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. Citigroup lowered their price objective on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Wedbush reissued an “outperform” rating and set a $110.00 target price (down from $125.00) on shares of Logitech International in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and an average price target of $85.71.

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.