Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in Logitech International SA (NASDAQ:LOGI) by 40.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 256,328 shares of the technology company’s stock after purchasing an additional 73,179 shares during the quarter. Logitech International comprises about 1.0% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s investment portfolio, making the stock its 24th largest position. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned 0.16% of Logitech International worth $7,774,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of LOGI. Vanguard Group Inc lifted its holdings in Logitech International by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 4,110,779 shares of the technology company’s stock worth $183,833,000 after purchasing an additional 107,294 shares during the last quarter. Vanguard Group Inc. increased its holdings in Logitech International by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,110,779 shares of the technology company’s stock worth $183,833,000 after purchasing an additional 107,294 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Logitech International by 3.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,638,525 shares of the technology company’s stock worth $82,758,000 after purchasing an additional 86,636 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Logitech International by 3.1% in the 3rd quarter. Renaissance Technologies LLC now owns 2,633,142 shares of the technology company’s stock worth $117,754,000 after buying an additional 79,242 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Logitech International by 270.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,281,595 shares of the technology company’s stock valued at $57,546,000 after purchasing an additional 935,805 shares during the last quarter. 37.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of LOGI stock opened at $36.50 on Thursday. Logitech International SA has a 52-week low of $29.06 and a 52-week high of $49.96. The stock has a market capitalization of $6.02 billion, a PE ratio of 27.24, a PEG ratio of 2.28 and a beta of 1.18.
Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, January 21st. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.17. Logitech International had a net margin of 9.06% and a return on equity of 26.85%. The company had revenue of $864.39 million for the quarter, compared to analyst estimates of $854.11 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Logitech International SA will post 1.72 earnings per share for the current year.
Several research firms have issued reports on LOGI. BidaskClub lowered shares of Logitech International from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 17th. Wedbush restated a “buy” rating and set a $40.00 target price on shares of Logitech International in a research report on Wednesday, January 16th. Zacks Investment Research reissued a “buy” rating and issued a $41.00 price objective on shares of Logitech International in a research note on Tuesday, November 13th. JPMorgan Chase & Co. upgraded Logitech International from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $42.00 in a report on Wednesday, January 23rd. Finally, Maxim Group raised shares of Logitech International from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a report on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $44.29.
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Logitech International Profile
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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