Zurcher Kantonalbank Zurich Cantonalbank Purchases 74,702 Shares of Logitech International S.A. $LOGI

Key Points

• Zurcher Kantonalbank raised its Logitech stake by 74,702 shares (a 2.7% increase) to 2,802,403 shares worth about $288.43 million, making LOGI its 19th-largest holding and 0.6% of the bank's portfolio.
• Earnings beat: Logitech reported $1.93 EPS vs $1.78 expected and $1.42 billion revenue vs $1.40 billion, with revenue up 6.1% year-over-year and a net margin of 14.94%.
• Analysts are mixed: the consensus rating is "Hold" with an average target of $106.29 (two Buys, seven Holds, one Sell), and several firms have recently cut targets or ratings (e.g., Citigroup to $115, Barclays to $98, UBS to neutral).

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,802,403 shares of the technology company's stock after purchasing an additional 74,702 shares during the period. Logitech International comprises 0.6% of Zurcher Kantonalbank Zurich Cantonalbank's investment portfolio, making the stock its 19th biggest position. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Logitech International were worth $288,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Logitech International in the 3rd quarter worth approximately $30,000. Mather Group LLC. purchased a new stake in shares of Logitech International during the third quarter valued at approximately $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 acquiring an additional 128 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Logitech International by 100.0% during the third quarter. Westside Investment Management Inc. now owns 326 shares of the technology company's stock worth $36,000 after acquiring an additional 163 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Logitech International by 40.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company's stock worth $52,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LOGI. Citigroup reduced 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. Barclays reissued an "equal weight" rating and issued a $98.00 price target (down from $134.00) on shares of Logitech International in a report on Friday, January 16th. UBS Group lowered shares of Logitech International from a "buy" rating to a "neutral" rating in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Logitech International from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, 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. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $106.29.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $101.09 on Monday. The stock has a market capitalization of $14.82 billion, a PE ratio of 21.15, a P/E/G ratio of 3.59 and a beta of 1.08. Logitech International S.A. has a one year low of $70.14 and a one year high of $123.01. The business's fifty day moving average price is $91.98 and its 200-day moving average price is $101.62.

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