Allianz Asset Management GmbH Purchases 567,810 Shares of Logitech International S.A. $LOGI

Allianz Asset Management GmbH boosted its position in Logitech International S.A. (NASDAQ:LOGI) by 57.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,556,342 shares of the technology company’s stock after acquiring an additional 567,810 shares during the period. Allianz Asset Management GmbH’s holdings in Logitech International were worth $160,175,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Logitech International during the third quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after buying an additional 165 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Logitech International by 101.5% during the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock valued at $66,000 after buying an additional 334 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Logitech International by 16.6% during the third quarter. Fifth Third Bancorp now owns 751 shares of the technology company’s stock valued at $82,000 after buying an additional 107 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Logitech International by 92.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,144 shares of the technology company’s stock valued at $115,000 after buying an additional 551 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of LOGI opened at $113.04 on Wednesday. Logitech International S.A. has a one year low of $83.32 and a one year high of $129.66. The company has a 50-day simple moving average of $103.04 and a two-hundred day simple moving average of $99.96. The firm has a market capitalization of $16.57 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 2.88 and a beta of 1.13.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted $0.93 earnings per share. Logitech International’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts expect that Logitech International S.A. will post 5.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of recent research reports. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Citigroup increased their target price on shares of Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays increased their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Finally, Wedbush reiterated an “outperform” rating and set a $135.00 target price on shares of Logitech International in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $113.67.

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.