Envestnet Asset Management Inc. Purchases 8,971 Shares of Logitech International S.A. (NASDAQ:LOGI)

Envestnet Asset Management Inc. grew its stake in shares of Logitech International S.A. (NASDAQ:LOGIFree Report) by 8.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,716 shares of the technology company’s stock after purchasing an additional 8,971 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Logitech International worth $9,261,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of Logitech International during the fourth quarter valued at about $26,000. Bessemer Group Inc. boosted its position in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock worth $27,000 after purchasing an additional 308 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Logitech International by 975.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after buying an additional 439 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Logitech International during the 4th quarter valued at approximately $49,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Logitech International in the fourth quarter valued at about $59,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Down 0.6%

Shares of Logitech International stock opened at $95.10 on Tuesday. The firm has a market capitalization of $15.14 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 19.89 and a beta of 0.96. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The stock’s fifty day moving average is $88.14 and its 200-day moving average is $87.87.

Logitech International (NASDAQ:LOGIGet Free Report) last announced its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. Analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on Logitech International from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. UBS Group raised Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their target price on Logitech International from $80.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Bank of America raised Logitech International from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Logitech International in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.29.

View Our Latest Report on LOGI

Logitech International Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Logitech International (NASDAQ:LOGI)

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