Foster & Motley Inc. Takes $1.33 Million Position in Logitech International S.A. $LOGI

Foster & Motley Inc. purchased a new stake in Logitech International S.A. (NASDAQ:LOGI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,168 shares of the technology company’s stock, valued at approximately $1,332,000.

Other hedge funds also recently modified their holdings of the company. Quarry LP bought a new position in shares of Logitech International during the 3rd quarter worth approximately $30,000. CIBC Private Wealth Group LLC grew its position in Logitech International by 61.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after acquiring an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after acquiring an additional 165 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Logitech International by 911.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after acquiring an additional 611 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Logitech International by 19.1% during the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 2.2%

Shares of LOGI opened at $100.47 on Thursday. The stock has a market cap of $14.73 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 3.61 and a beta of 1.17. Logitech International S.A. has a 1 year low of $83.32 and a 1 year high of $129.66. The stock’s 50-day moving average price is $102.88 and its two-hundred day moving average price is $99.50.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm posted $1.26 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Logitech International S.A. will post 5.2 EPS for the current year.

Logitech International Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a yield of 126.0%.

Wall Street Analyst Weigh In

LOGI has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a report on Tuesday, June 30th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Barclays reduced their price objective on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. decreased their target price on Logitech International from $123.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.86.

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.