Raiffeisen Bank International AG Takes $59,000 Position in Logitech International S.A. (NASDAQ:LOGI)

Raiffeisen Bank International AG purchased a new position in Logitech International S.A. (NASDAQ:LOGI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 720 shares of the technology company’s stock, valued at approximately $59,000.

Several other large investors also recently bought and sold shares of the business. Barclays PLC increased its position in Logitech International by 8.2% in the fourth 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 during the last quarter. Vontobel Holding Ltd. boosted its stake in Logitech International by 34.2% during the fourth 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 period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Logitech International by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock worth $215,127,000 after buying an additional 146,338 shares during the period. Pictet Asset Management Holding SA boosted its stake in 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 worth $188,254,000 after buying an additional 266,167 shares during the period. Finally, Norges Bank purchased a new position in Logitech International during the fourth quarter worth $156,888,000. Institutional investors own 45.76% of the company’s stock.

Logitech International Stock Performance

NASDAQ:LOGI opened at $86.50 on Tuesday. The stock has a market capitalization of $13.68 billion, a P/E ratio of 20.31, a P/E/G ratio of 2.61 and a beta of 0.99. The company’s 50-day simple moving average is $80.05 and its 200-day simple moving average is $85.78. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65.

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

Logitech International announced that its Board of Directors has authorized a share buyback program on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on LOGI. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. StockNews.com lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barclays lowered their target price on shares of Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Loop Capital lowered their target price on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a research note on Tuesday, May 6th. Finally, Citigroup lowered their price objective on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. 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.com, Logitech International presently has a consensus rating of “Hold” and an average target price of $85.71.

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.