Allianz Asset Management GmbH Decreases Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Allianz Asset Management GmbH lessened its holdings in Logitech International S.A. (NASDAQ:LOGI) by 38.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,035,184 shares of the technology company’s stock after selling 652,782 shares during the quarter. Allianz Asset Management GmbH owned 0.65% of Logitech International worth $85,714,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sierra Ocean LLC acquired a new stake in Logitech International in the 4th quarter worth approximately $27,000. Exane Asset Management acquired a new stake in shares of Logitech International during the fourth quarter worth $32,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Logitech International by 56.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock valued at $53,000 after buying an additional 233 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Logitech International by 109.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the technology company’s stock valued at $99,000 after acquiring an additional 631 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of Logitech International by 115,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock valued at $104,000 after buying an additional 1,153 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Insiders Place Their Bets

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 value of $28,980.00. Following the completion of the sale, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LOGI shares. Morgan Stanley upgraded Logitech International from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Bank of America lowered shares of Logitech International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $114.00 to $92.00 in a research report on Monday, December 16th. Wedbush reiterated a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research report on Wednesday, January 22nd. Citigroup raised their target price on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Barclays upped their price target on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $97.13.

Logitech International Trading Up 0.7 %

LOGI stock opened at $104.00 on Friday. Logitech International S.A. has a 12-month low of $74.72 and a 12-month high of $105.65. The business’s 50-day moving average is $91.16 and its 200 day moving average is $87.13. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.63 and a beta of 0.78.

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

About Logitech International

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.