SG Americas Securities LLC Sells 283 Shares of Logitech International S.A. (NASDAQ:LOGI)

SG Americas Securities LLC lowered its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,077 shares of the technology company’s stock after selling 283 shares during the quarter. SG Americas Securities LLC’s holdings in Logitech International were worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Transatlantique SA bought a new position in shares of Logitech International during the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new position in shares of Logitech International during the 4th quarter valued at $27,000. Bessemer Group Inc. raised its holdings in shares of Logitech International by 1,339.1% during the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after purchasing an additional 308 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Logitech International by 975.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after purchasing an additional 439 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Logitech International during the 4th quarter valued at $49,000. Institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

NASDAQ LOGI opened at $86.95 on Tuesday. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.61 and a beta of 0.96. The company’s fifty day moving average is $80.60 and its two-hundred day moving average is $86.58. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65.

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, topping 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 business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS. As a group, sell-side analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LOGI shares. Wedbush restated an “outperform” rating and set a $100.00 price target on shares of Logitech International in a report on Wednesday, May 21st. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. UBS Group upgraded shares of Logitech International from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Citigroup lowered their target price on shares of Logitech International from $105.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.29.

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.