Canada Pension Plan Investment Board Buys 17,355 Shares of Logitech International S.A. (NASDAQ:LOGI)

Canada Pension Plan Investment Board boosted its position in Logitech International S.A. (NASDAQ:LOGI) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 276,788 shares of the technology company’s stock after purchasing an additional 17,355 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.18% of Logitech International worth $22,882,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in shares of Logitech International by 8.2% during the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company’s stock worth $448,409,000 after acquiring an additional 414,236 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after purchasing an additional 1,240,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Logitech International by 6.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock worth $215,127,000 after purchasing an additional 146,338 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Logitech International by 13.3% during the 4th 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 last quarter. Finally, Norges Bank acquired a new position in Logitech International during the 4th quarter valued at about $156,888,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Trading Up 2.1 %

Shares of LOGI stock opened at $71.63 on Friday. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65. The stock has a 50 day moving average of $88.64 and a 200 day moving average of $86.55. The stock has a market cap of $11.33 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LOGI shares. JPMorgan Chase & Co. dropped their price target on Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America raised shares of Logitech International from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.57.

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.