MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 49.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,400 shares of the technology company's stock after purchasing an additional 75,488 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned approximately 0.14% of Logitech International worth $19,082,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Banque Transatlantique SA purchased a new stake in Logitech International in the 4th quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new stake in shares of Logitech International in the fourth quarter valued at $27,000. Bessemer Group Inc. lifted its position in shares of Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after acquiring an additional 308 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock valued at $40,000 after acquiring an additional 439 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Logitech International during the 4th quarter worth about $49,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Trading Down 0.8%

Shares of LOGI traded down $0.69 during mid-day trading on Wednesday, reaching $84.51. The company had a trading volume of 398,031 shares, compared to its average volume of 633,549. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65. The firm has a fifty day simple moving average of $80.82 and a 200-day simple moving average of $86.57. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 18.07 and a beta of 0.96.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.07. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.99 EPS. The business's quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup reduced their target price on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and reduced their price objective for the company from $90.00 to $73.00 in a research note on Friday, April 4th. JPMorgan Chase & Co. lowered their target price on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Loop Capital reduced their price target on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Finally, Barclays lowered their price objective on Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Logitech International presently has an average rating of "Hold" and an average target price of $84.29.

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.