Logitech International S.A. $LOGI Shares Sold by Munich Reinsurance Co Stock Corp in Munich

Key Points

• Munich Re trimmed its position in Logitech by 7.6% in Q4, selling 22,026 shares and ending the quarter with 268,838 shares worth about $27.7 million.
• Logitech beat expectations in its latest quarter, reporting EPS of $1.93 versus $1.78 expected and revenue of $1.42 billion (up 6.1% year-over-year).
• Analyst sentiment is mixed with a consensus rating of "Hold" and an average target price of $106.29 (two Buys, seven Holds, one Sell), after several recent downgrades and target cuts.

Munich Reinsurance Co Stock Corp in Munich cut its position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 268,838 shares of the technology company's stock after selling 22,026 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Logitech International were worth $27,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Logitech International by 0.6% in the third quarter. Vanguard Group Inc. now owns 6,607,500 shares of the technology company's stock valued at $726,812,000 after buying an additional 37,126 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Logitech International by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company's stock valued at $288,430,000 after buying an additional 74,702 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Logitech International by 7.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company's stock valued at $297,504,000 after buying an additional 191,828 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Logitech International by 305.7% in 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 buying an additional 1,570,876 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Logitech International by 8.0% in the third quarter. Legal & General Group Plc now owns 1,327,129 shares of the technology company's stock valued at $144,749,000 after buying an additional 98,589 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOGI has been the subject of a number of recent research reports. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of Logitech International in a research note on Tuesday, January 20th. BNP Paribas Exane lowered Logitech International from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a research note on Thursday, January 8th. Weiss Ratings lowered Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. Citigroup lowered their price objective on Logitech International from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, January 20th. Finally, UBS Group lowered Logitech International from a "buy" rating to a "neutral" rating in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $106.29.

Logitech International Stock Up 0.4%

Shares of NASDAQ LOGI opened at $95.39 on Friday. Logitech International S.A. has a fifty-two week low of $74.08 and a fifty-two week high of $123.01. The business has a 50 day moving average price of $92.64 and a two-hundred day moving average price of $101.23. The firm has a market cap of $13.98 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The technology company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.15. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm earned $1.59 EPS. Logitech International's quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Logitech International S.A. will post 5.1 earnings per share for the current year.

Logitech International Company 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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