Canada Pension Plan Investment Board Boosts Stake in Logitech International S.A. (NASDAQ:LOGI)

Canada Pension Plan Investment Board boosted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 6.7% in the 4th quarter, Holdings Channel reports. The fund owned 276,788 shares of the technology company’s stock after acquiring an additional 17,355 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Logitech International were worth $22,882,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new stake in shares of Logitech International in the fourth quarter valued at approximately $27,000. Bessemer Group Inc. grew its holdings in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after buying an additional 308 shares in the last quarter. Exane Asset Management acquired a new stake in shares of Logitech International in the 4th quarter worth $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Logitech International during the 4th quarter worth $49,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Logitech International by 56.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares of the company’s stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Logitech International Trading Up 2.1 %

Shares of LOGI stock opened at $71.63 on Friday. 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 $11.33 billion, a P/E ratio of 16.81, a PEG ratio of 2.61 and a beta of 0.97. The firm has a fifty day moving average price of $88.64 and a 200 day moving average price of $86.55.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating 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, equities analysts forecast that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its board has initiated 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 reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. Bank of America upgraded Logitech International from an “underperform” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $73.00 in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Logitech International from $96.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Citigroup decreased 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 report on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Logitech International presently has an average rating of “Hold” and a consensus price target of $90.57.

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.