Allspring Global Investments Holdings LLC Sells 2,846 Shares of Logitech International S.A. (NASDAQ:LOGI)

Allspring Global Investments Holdings LLC cut its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 39.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,322 shares of the technology company’s stock after selling 2,846 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Logitech International were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOGI. Banque Transatlantique SA bought a new position in shares of Logitech International in the 4th quarter valued at $26,000. Bessemer Group Inc. increased its holdings in Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after purchasing an additional 308 shares during the period. Tower Research Capital LLC TRC increased its holdings in Logitech International by 975.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after purchasing an additional 439 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Logitech International in the fourth quarter valued at $49,000. Finally, Raiffeisen Bank International AG acquired a new stake in Logitech International in the fourth quarter valued at $59,000. 45.76% of the stock is currently owned by institutional investors.

Logitech International Price Performance

NASDAQ LOGI opened at $94.95 on Friday. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 19.63 and a beta of 0.96. Logitech International S.A. has a 1-year low of $64.73 and a 1-year high of $105.65. The business’s fifty day moving average price is $86.22 and its 200-day moving average price is $87.30.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Equities research analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 23rd will be paid a dividend of $1.543 per share. This is a boost from Logitech International’s previous annual dividend of $1.37. This represents a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 23rd.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LOGI. Citigroup decreased their price objective on Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Loop Capital decreased their price target on Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on Logitech International from $96.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Bank of America upgraded Logitech International from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Barclays decreased their price target on Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.29.

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.