Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in Logitech International S.A. $LOGI

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Logitech by 15.1% in the fourth quarter, selling 15,943 shares and ending the quarter with 89,742 shares worth about $9.14 million.
• Brokerages have recently trimmed ratings and price targets on LOGI, leaving a MarketBeat consensus rating of Hold with an average target price of $106.29.
• Logitech shares opened at $99.49, trade in a 52-week range of $76.52–$123.01, and the company has a market capitalization of about $14.58 billion.

Mitsubishi UFJ Trust & Banking Corp cut its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,742 shares of the technology company's stock after selling 15,943 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Logitech International were worth $9,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP bought a new position in Logitech International in the 3rd quarter worth about $30,000. Mather Group LLC. purchased a new position in Logitech International during the 3rd quarter valued at about $34,000. Richardson Financial Services Inc. increased its position in shares of Logitech International by 63.7% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company's stock valued at $36,000 after buying an additional 128 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Logitech International by 100.0% in the third quarter. Westside Investment Management Inc. now owns 326 shares of the technology company's stock worth $36,000 after buying an additional 163 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Logitech International by 40.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company's stock valued at $52,000 after acquiring an additional 165 shares during the period. 45.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on LOGI. Barclays reaffirmed an "equal weight" rating and set a $98.00 price objective (down from $134.00) on shares of Logitech International in a research note on Friday, January 16th. Wall Street Zen lowered shares of Logitech International from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. BNP Paribas Exane cut shares of Logitech International from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a report on Thursday, January 8th. Weiss Ratings downgraded Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Finally, Morgan Stanley reissued an "underweight" rating and set a $89.00 price objective (down from $107.00) on shares of Logitech International in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Logitech International presently has a consensus rating of "Hold" and an average target price of $106.29.

Logitech International Stock Performance

NASDAQ LOGI opened at $99.49 on Friday. Logitech International S.A. has a 52-week low of $76.52 and a 52-week high of $123.01. The company has a fifty day moving average of $93.26 and a 200-day moving average of $100.88. The company has a market capitalization of $14.58 billion, a P/E ratio of 20.81, a P/E/G ratio of 3.53 and a beta of 1.07.

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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