Allianz SE Invests $72,000 in Logitech International S.A. (NASDAQ:LOGI)

Allianz SE acquired a new stake in Logitech International S.A. (NASDAQ:LOGI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 877 shares of the technology company’s stock, valued at approximately $72,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOGI. Barclays PLC lifted its stake in shares of Logitech International by 64.2% in the third quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after buying an additional 1,967,133 shares in the last quarter. Norges Bank purchased a new stake in Logitech International during the 4th quarter valued at about $156,888,000. Assenagon Asset Management S.A. lifted its stake in Logitech International by 2,315.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after purchasing an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock worth $402,802,000 after purchasing an additional 1,240,478 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock valued at $61,978,000 after purchasing an additional 655,025 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LOGI shares. Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $100.00 to $125.00 in a research report on Friday, March 7th. StockNews.com cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Citigroup increased their price target on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $100.14.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 300 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Logitech International Stock Performance

NASDAQ:LOGI opened at $84.41 on Tuesday. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $105.65. The company has a 50 day moving average price of $96.09 and a 200 day moving average price of $88.16. The stock has a market capitalization of $13.35 billion, a P/E ratio of 19.81, a PEG ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Research analysts forecast that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Logitech International 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.