Logitech International S.A. (NASDAQ:LOGI) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in Logitech International S.A. (NASDAQ:LOGI) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 351,097 shares of the technology company’s stock after acquiring an additional 18,986 shares during the period. Bank of New York Mellon Corp’s holdings in Logitech International were worth $28,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new position in shares of Logitech International in the fourth quarter worth $27,000. Exane Asset Management purchased a new position in shares of Logitech International in the fourth quarter worth $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 worth $53,000 after buying an additional 233 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Logitech International by 109.4% in the fourth 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 during the last quarter. Finally, Transamerica Financial Advisors Inc. raised its holdings in shares of Logitech International by 115,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after buying an additional 1,153 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LOGI shares. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price objective 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. Bank of America reiterated an “underperform” rating and issued a $90.00 price objective (down previously from $105.00) on shares of Logitech International in a research report on Friday, February 28th. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Barclays upped their price target on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.50.

Insider Transactions at Logitech International

In other Logitech International 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 in the company, valued at $709,816.80. This represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.

Logitech International Price Performance

Logitech International stock opened at $97.67 on Friday. The firm has a 50 day simple moving average of $94.58 and a 200-day simple moving average of $87.97. 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 $15.45 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data 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%. Equities analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

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