Munich Reinsurance Co Stock Corp in Munich Acquires New Stake in Logitech International S.A. $LOGI

Munich Reinsurance Co Stock Corp in Munich bought a new position in Logitech International S.A. (NASDAQ:LOGI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 290,864 shares of the technology company’s stock, valued at approximately $31,725,000. Munich Reinsurance Co Stock Corp in Munich owned 0.18% of Logitech International as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LOGI. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Logitech International by 46.5% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 105,685 shares of the technology company’s stock worth $11,520,000 after purchasing an additional 33,564 shares during the last quarter. Virtus Advisers LLC bought a new stake in Logitech International during the 2nd quarter valued at about $246,000. AMJ Financial Wealth Management purchased a new stake in Logitech International in the 3rd quarter valued at about $3,294,000. Vise Technologies Inc. purchased a new stake in Logitech International in the 2nd quarter valued at about $329,000. Finally, BLI Banque de Luxembourg Investments grew its stake in Logitech International by 19.7% in the 2nd quarter. BLI Banque de Luxembourg Investments now owns 75,525 shares of the technology company’s stock worth $6,752,000 after acquiring an additional 12,446 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on LOGI. Morgan Stanley reaffirmed an “underweight” rating and set a $89.00 price target (down from $107.00) on shares of Logitech International in a research note on Tuesday, January 20th. Wall Street Zen cut Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. BNP Paribas Exane lowered Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price for the company. in a research report on Thursday, January 8th. Zacks Research cut Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Barclays reissued an “equal weight” rating and set a $98.00 price target (down from $134.00) on shares of Logitech International in a research report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Logitech International has a consensus rating of “Hold” and an average target price of $102.13.

Logitech International Price Performance

Shares of LOGI stock opened at $92.18 on Friday. The company’s 50 day moving average is $93.03 and its 200 day moving average is $104.61. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $123.01.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates 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%.Logitech International’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. Sell-side analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

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.