Bank of New York Mellon Corp Has $29.81 Million Position in Logitech International S.A. (NASDAQ:LOGI)

Bank of New York Mellon Corp grew its position in Logitech International S.A. (NASDAQ:LOGI) by 0.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 353,147 shares of the technology company’s stock after purchasing an additional 2,050 shares during the period. Bank of New York Mellon Corp owned about 0.22% of Logitech International worth $29,809,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in Logitech International during the 4th quarter worth approximately $26,000. Bessemer Group Inc. grew its position 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 acquiring an additional 308 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 acquiring an additional 439 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Logitech International during the fourth quarter valued at about $49,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Logitech International in the fourth quarter worth approximately $59,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group upgraded Logitech International from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of Logitech International in a report on Wednesday, May 21st. Barclays lowered their price objective on Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Bank of America upgraded Logitech International from an “underperform” rating to a “neutral” rating and decreased their price objective for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Loop Capital dropped their price objective on Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a research report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.86.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $93.31 on Wednesday. The business’s 50 day moving average price is $87.19 and its 200-day moving average price is $87.55. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 19.44 and a beta of 0.96.

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

Logitech International Increases Dividend

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

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.