Zurcher Kantonalbank Zurich Cantonalbank Purchases 146,338 Shares of Logitech International S.A. (NASDAQ:LOGI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International S.A. (NASDAQ:LOGI) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,598,068 shares of the technology company’s stock after acquiring an additional 146,338 shares during the period. Logitech International accounts for 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 20th largest holding. Zurcher Kantonalbank Zurich Cantonalbank owned about 1.64% of Logitech International worth $215,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sierra Ocean LLC acquired a new stake in Logitech International during the 4th quarter valued at $27,000. Exane Asset Management acquired a new stake in shares of Logitech International in the fourth quarter valued at $32,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 buying an additional 233 shares during the last quarter. Global Retirement Partners LLC lifted its position in Logitech International by 109.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock worth $99,000 after buying an additional 631 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. grew its holdings in Logitech International by 115,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,153 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Trading Up 1.2 %

Logitech International stock opened at $97.67 on Monday. The firm has a market capitalization of $15.45 billion, a P/E ratio of 22.93, a PEG ratio of 2.61 and a beta of 0.73. The business has a 50-day moving average of $94.58 and a 200-day moving average of $87.94. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $105.65.

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

Logitech International announced that its board has initiated a share repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

LOGI has been the topic of a number of research reports. Bank of America reiterated an “underperform” rating and set a $90.00 target price (down from $105.00) on shares of Logitech International in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Citigroup lifted their target price on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.50.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value 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. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Logitech International Company 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.