Logitech International S.A. (NASDAQ:LOGI) Short Interest Down 21.2% in April

Logitech International S.A. (NASDAQ:LOGI) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 2,560,000 shares, a decline of 21.2% from the March 31st total of 3,250,000 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 466,400 shares, the short-interest ratio is currently 5.5 days.

Insider Activity at Logitech International

In other news, COO Prakash Arunkundrum sold 23,023 shares of Logitech International stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the completion of the transaction, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Prakash Arunkundrum sold 23,023 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the sale, the chief operating officer now owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samantha Harnett sold 650 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the transaction, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $2,207,555 over the last quarter. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LOGI. Norges Bank purchased a new position in Logitech International during the fourth quarter valued at approximately $214,130,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Logitech International by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after buying an additional 760,263 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Logitech International by 1,932.5% during the first quarter. Assenagon Asset Management S.A. now owns 480,655 shares of the technology company’s stock valued at $43,098,000 after buying an additional 457,006 shares during the period. Acadian Asset Management LLC grew its position in Logitech International by 317.8% during the third quarter. Acadian Asset Management LLC now owns 546,851 shares of the technology company’s stock worth $37,817,000 after buying an additional 415,950 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Logitech International by 20.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after acquiring an additional 306,948 shares in the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Trading Up 0.7 %

Shares of LOGI stock traded up $0.54 on Friday, hitting $79.26. 538,537 shares of the stock were exchanged, compared to its average volume of 410,223. Logitech International has a one year low of $53.91 and a one year high of $96.66. The firm’s 50 day moving average is $87.14 and its two-hundred day moving average is $86.33. The firm has a market capitalization of $12.53 billion, a PE ratio of 25.90, a P/E/G ratio of 1.66 and a beta of 0.74.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LOGI. Citigroup boosted their target price on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. Wedbush restated a “neutral” rating and set a $92.00 price target on shares of Logitech International in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Finally, Berenberg Bank started coverage on shares of Logitech International in a research report on Thursday, March 14th. They set a “buy” rating and a $111.00 target price for the company. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Logitech International presently has a consensus rating of “Hold” and a consensus target price of $92.43.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.