Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Logitech International S.A. $LOGI

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 2.7% during the fourth quarter, HoldingsChannel reports. The fund owned 2,802,403 shares of the technology company’s stock after purchasing an additional 74,702 shares during the quarter. Logitech International comprises about 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 19th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Logitech International were worth $288,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Logitech International by 305.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock worth $227,859,000 after acquiring an additional 1,570,876 shares during the period. Credit Agricole S A purchased a new stake in Logitech International during the 3rd quarter worth about $104,402,000. Assenagon Asset Management S.A. boosted its stake in Logitech International by 1,784.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 689,908 shares of the technology company’s stock worth $71,004,000 after purchasing an additional 653,296 shares during the period. Marshall Wace LLP boosted its stake in Logitech International by 585.5% in the 3rd quarter. Marshall Wace LLP now owns 550,833 shares of the technology company’s stock worth $60,330,000 after purchasing an additional 470,476 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in Logitech International during the 3rd quarter valued at about $31,725,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Performance

Shares of LOGI opened at $101.09 on Monday. Logitech International S.A. has a 12-month low of $70.14 and a 12-month high of $123.01. The company has a market cap of $14.82 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 3.59 and a beta of 1.08. The stock has a 50-day moving average price of $91.98 and a 200-day moving average price of $101.62.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, January 27th. The technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. Logitech International’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. As a group, analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOGI. Barclays reiterated 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. Wall Street Zen raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley reiterated an “underweight” rating and issued a $89.00 target price (down from $107.00) on shares of Logitech International in a research note on Tuesday, January 20th. UBS Group downgraded shares of Logitech International from a “buy” rating to a “neutral” rating in a report on Tuesday, March 17th. Finally, Zacks Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $106.29.

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.