Logitech International S.A. (NASDAQ:LOGI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in Logitech International S.A. (NASDAQ:LOGI) by 26.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,165 shares of the technology company’s stock after selling 16,540 shares during the period. BNP Paribas Financial Markets’ holdings in Logitech International were worth $3,719,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in Logitech International by 505.9% in the fourth quarter. Ameriprise Financial Inc. now owns 296,759 shares of the technology company’s stock worth $24,433,000 after purchasing an additional 247,779 shares during the period. AXA S.A. lifted its position in Logitech International by 12.0% in the fourth quarter. AXA S.A. now owns 447,257 shares of the technology company’s stock worth $36,832,000 after purchasing an additional 47,764 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in Logitech International by 4.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,147,402 shares of the technology company’s stock worth $94,994,000 after purchasing an additional 49,451 shares during the period. Freestone Grove Partners LP acquired a new stake in Logitech International in the fourth quarter worth approximately $39,660,000. Finally, PDT Partners LLC bought a new position in shares of Logitech International in the fourth quarter valued at $11,156,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Up 0.7%

Shares of NASDAQ:LOGI opened at $87.59 on Thursday. The company’s fifty day moving average is $80.37 and its two-hundred day moving average is $85.67. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The company has a market cap of $13.85 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI) last announced its 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. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $0.99 EPS. The company’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOGI. Loop Capital dropped their price target on Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a report on Tuesday, May 6th. Citigroup dropped their price target on Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Barclays dropped their price target on Logitech International from $108.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock 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.