Logitech International S.A. (NASDAQ:LOGI) Shares Purchased by Bank of Montreal Can

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

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Bank of America raised Logitech International from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. JPMorgan Chase & Co. raised their target price on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Eight investment 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 company has a consensus rating of “Hold” and an average target price of $97.71.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of the company’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 transaction of $28,980.00. Following the completion of the transaction, the insider now directly owns 7,348 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Logitech International Stock Up 1.8 %

Shares of NASDAQ LOGI opened at $71.67 on Friday. The business has a 50 day moving average price of $91.42 and a two-hundred day moving average price of $87.10. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65. The firm has a market cap of $11.33 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI) last issued its quarterly 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 net margin of 14.38% and a return on equity of 30.53%. On average, analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International announced that its board has authorized a share 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.