Vanguard Group Inc. Raises Stock Holdings in Logitech International S.A. $LOGI

Vanguard Group Inc. grew its position in Logitech International S.A. (NASDAQ:LOGI) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 6,607,500 shares of the technology company’s stock after acquiring an additional 37,126 shares during the quarter. Vanguard Group Inc.’s holdings in Logitech International were worth $726,812,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allianz Asset Management GmbH boosted its stake in Logitech International by 36.6% in the third quarter. Allianz Asset Management GmbH now owns 988,532 shares of the technology company’s stock valued at $107,822,000 after acquiring an additional 264,989 shares in the last quarter. Amundi boosted its position in shares of Logitech International by 13.4% in the 2nd quarter. Amundi now owns 962,779 shares of the technology company’s stock worth $89,471,000 after purchasing an additional 113,959 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Logitech International by 31.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 713,509 shares of the technology company’s stock worth $64,037,000 after buying an additional 171,307 shares during the last quarter. Norges Bank purchased a new position in Logitech International during the 2nd quarter worth $42,240,000. Finally, Mackenzie Financial Corp increased its position in Logitech International by 2,227.1% during the 2nd quarter. Mackenzie Financial Corp now owns 453,385 shares of the technology company’s stock valued at $40,840,000 after buying an additional 433,902 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Stock Down 0.7%

LOGI stock opened at $89.38 on Tuesday. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $123.01. The firm’s fifty day simple moving average is $95.57 and its 200-day simple moving average is $105.12.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on LOGI. Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a report on Thursday, January 22nd. Zacks Research downgraded shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Citigroup decreased their price target on shares of Logitech International from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. Barclays reissued an “equal weight” rating and issued a $98.00 target price (down from $134.00) on shares of Logitech International in a research report on Friday, January 16th. Finally, Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Logitech International presently has a consensus rating of “Hold” and a consensus target price of $102.13.

About Logitech International

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.