Cerity Partners LLC Increases Holdings in Logitech International S.A. (NASDAQ:LOGI)

Cerity Partners LLC lifted its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 390.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,493 shares of the technology company’s stock after buying an additional 21,885 shares during the period. Cerity Partners LLC’s holdings in Logitech International were worth $2,321,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LOGI. Norges Bank acquired a new stake in shares of Logitech International in the fourth quarter valued at approximately $156,888,000. Freestone Grove Partners LP acquired a new position in Logitech International in the 4th quarter worth approximately $39,660,000. Barclays PLC boosted its stake in Logitech International by 8.2% in the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company’s stock worth $448,409,000 after purchasing an additional 414,236 shares during the period. SIH Partners LLLP acquired a new position in Logitech International in the 4th quarter worth approximately $31,886,000. Finally, Pictet Asset Management Holding SA boosted its stake in Logitech International by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company’s stock worth $188,254,000 after purchasing an additional 266,167 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Trading Down 0.2%

LOGI stock opened at $95.71 on Friday. The company has a 50 day simple moving average of $88.14 and a 200 day simple moving average of $87.82. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65.

Logitech International (NASDAQ:LOGI) last posted its 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. Logitech International had a net margin of 13.86% and a return on equity of 30.40%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts forecast that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on LOGI. JPMorgan Chase & Co. boosted their price target on shares of Logitech International from $80.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Logitech International in a research report on Wednesday, May 21st. Bank of America raised shares of Logitech International from an “underperform” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $73.00 in a research report on Friday, April 4th. UBS Group raised shares of Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, Citigroup increased their price target on shares of Logitech International from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. 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, Logitech International has an average rating of “Hold” and a consensus target price of $91.29.

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.