Evelyn Partners Investment Management LLP Reduces Holdings in Logitech International S.A. $LOGI

Evelyn Partners Investment Management LLP decreased its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 33.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,209 shares of the technology company’s stock after selling 7,130 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Logitech International were worth $1,286,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LOGI. Rockefeller Capital Management L.P. lifted its holdings in Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock valued at $86,000 after purchasing an additional 114 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of Logitech International by 0.7% in the third quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock worth $1,812,000 after purchasing an additional 120 shares in the last quarter. Signaturefd LLC increased its stake in shares of Logitech International by 2.0% in the fourth quarter. Signaturefd LLC now owns 6,167 shares of the technology company’s stock worth $618,000 after purchasing an additional 122 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of Logitech International by 1.3% in the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock valued at $918,000 after purchasing an additional 126 shares during the period. Finally, Corient Private Wealth LLC raised its position in shares of Logitech International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company’s stock valued at $971,000 after purchasing an additional 126 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 1.9%

LOGI stock opened at $107.82 on Tuesday. The firm has a 50 day moving average of $106.20 and a 200-day moving average of $98.33. The firm has a market capitalization of $15.81 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 4.43 and a beta of 1.17. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. Logitech International’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that Logitech International S.A. will post 5.21 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. Stockholders of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd. Logitech International’s payout ratio is 10.88%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LOGI shares. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Logitech International in a report on Wednesday, July 22nd. Barclays boosted their target price on shares of Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a research report on Tuesday, June 30th. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Finally, Citigroup lifted their price target on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.57.

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.