ASR Vermogensbeheer N.V. Boosts Holdings in Logitech International S.A. $LOGI

Key Points

• ASR Vermogensbeheer N.V. increased its Logitech stake by 19.9% in the fourth quarter, buying 11,460 more shares and bringing its total holding to 68,926 shares valued at about $7.1 million.
• Several other institutional investors also boosted or initiated positions in Logitech, underscoring continued institutional interest in the stock.
• Logitech reported better-than-expected quarterly results and is drawing positive attention from analysts, with Citigroup raising its price target and keeping a Buy rating while the company also launched a new $1.4 billion share repurchase program.

ASR Vermogensbeheer N.V. grew its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,926 shares of the technology company's stock after acquiring an additional 11,460 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Logitech International were worth $7,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its holdings in Logitech International by 305.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company's stock valued at $227,859,000 after purchasing an additional 1,570,876 shares in the last quarter. Credit Agricole S A bought a new stake in shares of Logitech International in the 3rd quarter worth about $104,402,000. Assenagon Asset Management S.A. lifted its stake in shares of Logitech International by 1,784.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 689,908 shares of the technology company's stock valued at $71,004,000 after purchasing an additional 653,296 shares during the last quarter. Marshall Wace LLP boosted its stake in Logitech International by 585.5% during the third quarter. Marshall Wace LLP now owns 550,833 shares of the technology company's stock worth $60,330,000 after buying an additional 470,476 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Logitech International during the third quarter valued at approximately $31,725,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International News Roundup

Here are the key news stories impacting Logitech International this week:

• Positive Sentiment: Logitech completed its $1.6 billion share buyback and launched a new three-year $1.4 billion repurchase program, reinforcing management’s capital-return strategy and supporting the stock. Logitech Completes $1.6 Billion Share Buyback and Launches New $1.4 Billion Program
• Positive Sentiment: The CEO said Logitech will increase spending on R&D and marketing to push growth in AI, gaming, and business users, signaling confidence in future demand. Logitech CEO plans to boost spending on R&D and marketing
• Positive Sentiment: Citigroup raised its price target on Logitech and kept a Buy rating, suggesting more upside from current levels. Logitech International price target raised by Citigroup
• Positive Sentiment: Wedbush initiated or reiterated an Outperform view, adding to the positive analyst tone around the stock. Logitech International Given Outperform Rating at Wedbush
• Neutral Sentiment: Logitech also launched new Rugged Combo 4c keyboard cases for iPad, a product update that supports its education lineup but is unlikely to be a major near-term stock driver. New Logitech Rugged Combo 4c Keyboard Cases
• Neutral Sentiment: Some analysts trimmed or only modestly adjusted earnings estimates, indicating expectations are still stable rather than sharply improving. Logitech earnings estimate updates
• Negative Sentiment: Barclays lifted its target but kept an Equal Weight rating and implied limited downside/upside balance, which may temper enthusiasm at higher share prices. Logitech International price target raised by Barclays
• Negative Sentiment: Management’s plan to boost spending could pressure margins if demand softens during a global slowdown, creating some risk around profitability. Logitech CEO plans to boost spending on R&D and marketing

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wedbush restated an "outperform" rating and issued a $135.00 target price on shares of Logitech International in a research note on Wednesday. Barclays boosted their target price on Logitech International from $98.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday. Citigroup raised their price target on shares of Logitech International from $115.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley reiterated an "underweight" rating and issued a $89.00 price objective (down from $107.00) on shares of Logitech International in a research note on Tuesday, January 20th. Finally, Weiss Ratings cut shares of Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $113.67.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $109.39 on Friday. The stock's 50-day moving average is $94.08 and its two-hundred day moving average is $100.75. Logitech International S.A. has a 1-year low of $80.08 and a 1-year high of $123.01. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 2.61 and a beta of 1.07.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Logitech International had a return on equity of 34.12% and a net margin of 14.69%.The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the business posted $0.93 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Logitech International S.A. will post 5.18 earnings per share for the current fiscal year.

Logitech International Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company's product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.

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