Assenagon Asset Management S.A. Increases Stock Position in Logitech International S.A. $LOGI

Key Points

• Assenagon Asset Management increased its stake in Logitech by 1,784.4% in Q4, buying 653,296 shares to hold 689,908 shares worth about $71.0 million, or roughly 0.44% of the company.
• Logitech beat quarterly expectations with $1.93 EPS vs. $1.78 expected and $1.42 billion in revenue (vs. $1.40B), with revenue up 6.1% year-over-year and strong profitability metrics (ROE 33.57%, net margin 14.94%).
• The stock has a market cap of $13.46 billion and a P/E of 19.21, trades in a one-year range of $64.73–$123.01, and carries a consensus analyst rating of Hold with an average target of $102.13.

Assenagon Asset Management S.A. raised its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 1,784.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 689,908 shares of the technology company's stock after purchasing an additional 653,296 shares during the period. Assenagon Asset Management S.A. owned 0.44% of Logitech International worth $71,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Logitech International by 61.2% in the first quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company's stock worth $352,000 after buying an additional 1,585 shares in the last quarter. Entropy Technologies LP purchased a new position in Logitech International during the 2nd quarter valued at approximately $452,000. MAI Capital Management increased its stake in Logitech International by 23.2% in the 2nd quarter. MAI Capital Management now owns 1,742 shares of the technology company's stock worth $157,000 after acquiring an additional 328 shares during the last quarter. Rhumbline Advisers increased its stake in Logitech International by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 4,732 shares of the technology company's stock worth $426,000 after acquiring an additional 152 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Logitech International during the 2nd quarter worth approximately $4,481,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Stock Performance

Shares of Logitech International stock opened at $91.83 on Wednesday. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 3.33 and a beta of 1.09. The stock has a 50 day moving average price of $91.27 and a 200-day moving average price of $103.68. Logitech International S.A. has a one year low of $64.73 and a one year high of $123.01.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.15. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.Logitech International's revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. Sell-side analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LOGI shares. Wedbush reiterated an "outperform" rating and set a $135.00 target price on shares of Logitech International in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Logitech International in a research note on Thursday, January 22nd. Zacks Research lowered shares of Logitech International from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Morgan Stanley reissued 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, UBS Group downgraded shares of Logitech International from a "buy" rating to a "neutral" rating in a report on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Logitech International has a consensus rating of "Hold" and an average target price of $102.13.

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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