Canada Pension Plan Investment Board Grows Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Canada Pension Plan Investment Board lifted its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,788 shares of the technology company's stock after acquiring an additional 17,355 shares during the period. Canada Pension Plan Investment Board owned 0.18% of Logitech International worth $22,882,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Logitech International by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company's stock worth $458,000 after purchasing an additional 127 shares in the last quarter. Tealwood Asset Management Inc. raised its holdings in shares of Logitech International by 1.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company's stock worth $1,231,000 after purchasing an additional 175 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Logitech International by 16.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company's stock valued at $123,000 after acquiring an additional 213 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Logitech International by 7.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company's stock worth $267,000 after buying an additional 230 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Logitech International by 56.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock worth $53,000 after acquiring an additional 233 shares during the period. Institutional investors and hedge funds own 45.76% of the company's stock.

Logitech International Price Performance

LOGI traded up $2.65 on Wednesday, hitting $74.95. 1,017,483 shares of the stock were exchanged, compared to its average volume of 598,126. The business has a 50-day moving average of $87.43 and a two-hundred day moving average of $86.35. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Equities research 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 authorized a stock repurchase program on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Logitech International 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 transaction of $28,980.00. Following the sale, the insider now owns 7,348 shares of the company's stock, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Morgan Stanley raised Logitech International from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. StockNews.com downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and reduced their price objective for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock 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.