Munich Reinsurance Co Stock Corp in Munich Grows Position in Logitech International S.A. $LOGI

Munich Reinsurance Co Stock Corp in Munich raised its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 19.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 320,173 shares of the technology company’s stock after purchasing an additional 51,335 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Logitech International were worth $28,832,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Logitech International during the 3rd quarter valued at $30,000. CIBC Private Wealth Group LLC raised its position in shares of Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock worth $46,000 after buying an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $52,000 after acquiring an additional 165 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in Logitech International by 101.5% in the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock valued at $66,000 after acquiring an additional 334 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Logitech International by 911.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock valued at $68,000 after acquiring an additional 611 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of LOGI opened at $97.86 on Thursday. The stock’s 50-day moving average is $106.27 and its two-hundred day moving average is $98.30. The stock has a market cap of $14.35 billion, a PE ratio of 20.39, a P/E/G ratio of 4.10 and a beta of 1.17. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. On average, research analysts anticipate that Logitech International S.A. will post 5.16 earnings per share for the current year.

Logitech International Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be issued a $1.36 dividend. This represents a yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

Analysts Set New Price Targets

Several brokerages have commented on LOGI. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Morgan Stanley decreased their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a report on Wednesday. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of Logitech International in a research report on Wednesday, May 6th. Barclays raised their price target on shares of Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, UBS Group cut shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $109.57.

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.