Logitech International S.A. (NASDAQ:LOGI) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,697 shares of the technology company’s stock after acquiring an additional 14,657 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Logitech International were worth $7,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in Logitech International by 2.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock valued at $458,000 after purchasing an additional 127 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Logitech International by 0.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after buying an additional 170 shares during the period. Tealwood Asset Management Inc. lifted its stake in Logitech International by 1.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after acquiring an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Logitech International by 16.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company’s stock valued at $123,000 after acquiring an additional 213 shares during the period. Finally, Townsquare Capital LLC grew its position in Logitech International by 3.0% in the 3rd quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company’s stock valued at $685,000 after acquiring an additional 225 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on LOGI shares. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Citigroup raised their price target on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Barclays upped their price objective on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.14.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Logitech International Stock Performance

NASDAQ:LOGI opened at $86.95 on Monday. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $105.65. The stock has a market cap of $13.75 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.61 and a beta of 0.73. The stock has a 50-day simple moving average of $96.14 and a 200-day simple moving average of $88.16.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results 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 return on equity of 30.53% and a net margin of 14.38%. On average, equities research analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its board has initiated a share repurchase program on Wednesday, March 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.