Bank of Montreal Can Acquires 110,668 Shares of Logitech International S.A. (NASDAQ:LOGI)

Bank of Montreal Can grew its position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 116.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,047 shares of the technology company's stock after purchasing an additional 110,668 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of Logitech International worth $17,034,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in shares of Logitech International in the 4th quarter worth approximately $27,000. Exane Asset Management bought a new stake in shares of Logitech International in the 4th quarter valued at about $32,000. Pilgrim Partners Asia Pte Ltd bought a new position in Logitech International during the 4th quarter worth approximately $49,000. MassMutual Private Wealth & Trust FSB lifted its position in Logitech International by 56.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company's stock valued at $53,000 after purchasing an additional 233 shares during the last quarter. Finally, Allianz SE bought a new position in shares of Logitech International in the fourth quarter worth approximately $72,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LOGI has been the subject of several recent analyst reports. Citigroup lowered their price objective on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and lowered their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. StockNews.com cut shares of Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Logitech International currently has an average rating of "Hold" and a consensus price target of $90.57.

Logitech International Price Performance

Logitech International stock traded up $1.66 during mid-day trading on Thursday, reaching $71.79. 264,034 shares of the stock traded hands, compared to its average volume of 594,584. The stock has a market capitalization of $11.35 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The business's 50-day moving average is $89.78 and its 200-day moving average is $86.78. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. Equities analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

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.