Ontario Teachers Pension Plan Board Buys 79,897 Shares of Logitech International S.A. (NASDAQ:LOGI)

Ontario Teachers Pension Plan Board boosted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 82.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 176,898 shares of the technology company's stock after acquiring an additional 79,897 shares during the quarter. Ontario Teachers Pension Plan Board owned approximately 0.11% of Logitech International worth $14,624,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Logitech International by 8.2% in the fourth quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock worth $448,409,000 after purchasing an additional 414,236 shares in the last quarter. Vontobel Holding Ltd. grew its position 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Logitech International by 6.0% during 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 during the period. Pictet Asset Management Holding SA raised its position in shares of Logitech International by 13.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock valued at $188,254,000 after buying an additional 266,167 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Logitech International in the fourth quarter valued at about $156,888,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LOGI shares. Barclays boosted their price objective on Logitech International from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Wedbush raised shares of Logitech International from a "neutral" rating to an "outperform" rating and upped their target price for the company from $100.00 to $125.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. cut 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. Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Logitech International presently has an average rating of "Hold" and an average price target of $90.57.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the stock in a transaction that occurred 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 directly owns 7,348 shares of the company's stock, valued at $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company's stock.

Logitech International Price Performance

Shares of NASDAQ:LOGI traded up $1.50 during trading on Friday, reaching $71.63. The stock had a trading volume of 524,868 shares, compared to its average volume of 596,148. The stock has a market capitalization of $11.33 billion, a PE ratio of 16.81, a P/E/G ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $105.65. The business's 50-day moving average price is $88.64 and its 200 day moving average price is $86.55.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping 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%. 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 stock 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 reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are 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.