Two Sigma Advisers LP Trims Position in Logitech International S.A. (NASDAQ:LOGI)

Two Sigma Advisers LP cut its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 412,014 shares of the technology company’s stock after selling 67,820 shares during the period. Two Sigma Advisers LP’s holdings in Logitech International were worth $33,929,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Logitech International by 4,876.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock valued at $13,798,000 after acquiring an additional 164,185 shares in the last quarter. Bank of New York Mellon Corp boosted 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 valued at $28,913,000 after purchasing an additional 18,986 shares during the period. US Bancorp DE grew its position in shares of Logitech International by 5.6% during the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock valued at $687,000 after purchasing an additional 446 shares in the last quarter. Barclays PLC grew its position in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Logitech International in the fourth quarter worth $246,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Trading Up 0.1%

Shares of Logitech International stock opened at $86.55 on Wednesday. The firm has a market capitalization 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 12 month low of $64.73 and a 12 month high of $105.65. The business’s 50-day moving average price is $80.00 and its 200-day moving average price is $85.79.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Logitech International’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

LOGI has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price target (down previously from $125.00) on shares of Logitech International in a report on Thursday, April 24th. Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Citigroup decreased 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, JPMorgan Chase & Co. lowered their target price on shares of Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.71.

About Logitech International

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.