Investment Management Corp of Ontario Sells 22,052 Shares of Logitech International S.A. (NASDAQ:LOGI)

Investment Management Corp of Ontario cut its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 54.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,387 shares of the technology company's stock after selling 22,052 shares during the period. Investment Management Corp of Ontario's holdings in Logitech International were worth $1,514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOGI. Barclays PLC grew its holdings in shares of Logitech International by 8.2% in 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 during the last quarter. Vontobel Holding Ltd. increased its stake in Logitech International by 34.2% in the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock worth $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 raised its holdings 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 period. Finally, Norges Bank purchased a new stake in Logitech International during the fourth quarter valued at about $156,888,000. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Price Performance

Shares of LOGI stock traded up $0.17 during trading on Thursday, reaching $87.76. The company had a trading volume of 501,450 shares, compared to its average volume of 623,496. The firm's 50 day simple moving average is $80.37 and its two-hundred day simple moving average is $85.67. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65. The company has a market capitalization of $13.88 billion, a PE ratio of 20.60, a PEG ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.07. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The company's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. Analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its board has initiated a share repurchase plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

LOGI has been the topic of a number of recent analyst reports. Wedbush restated an "outperform" rating and set a $110.00 price target (down previously from $125.00) on shares of Logitech International in a report on Thursday, April 24th. Loop Capital reduced their target price on Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. StockNews.com cut Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft raised Logitech International from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $85.71.

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.