Logitech International S.A. $LOGI Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its position in Logitech International S.A. (NASDAQ:LOGI) by 16.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,457 shares of the technology company’s stock after selling 6,658 shares during the period. LPL Financial LLC’s holdings in Logitech International were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LOGI. Geode Capital Management LLC increased its position in shares of Logitech International by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 130,019 shares of the technology company’s stock valued at $10,707,000 after acquiring an additional 1,140 shares during the period. Cerity Partners LLC increased its position in shares of Logitech International by 9.4% in the 4th quarter. Cerity Partners LLC now owns 5,608 shares of the technology company’s stock valued at $481,000 after acquiring an additional 483 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Logitech International in the 4th quarter valued at $4,162,000. Mariner LLC increased its position in shares of Logitech International by 12.1% in the 4th quarter. Mariner LLC now owns 25,540 shares of the technology company’s stock valued at $2,103,000 after acquiring an additional 2,751 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Logitech International by 6.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 276,788 shares of the technology company’s stock valued at $22,882,000 after acquiring an additional 17,355 shares during the period. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Price Performance

LOGI stock opened at $97.76 on Monday. The company’s 50-day simple moving average is $92.23 and its 200-day simple moving average is $88.77. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.18. Logitech International had a net margin of 13.78% and a return on equity of 30.81%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted $1.13 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast 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 paid a dividend of $1.543 per share. This represents a dividend yield of 140.0%. 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.

Wall Street Analyst Weigh In

LOGI has been the topic of several research reports. Citigroup upped their target price on Logitech International from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Loop Capital lowered their price target on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a report on Tuesday, May 6th. BNP Paribas Exane raised shares of Logitech International from a “neutral” rating to an “outperform” rating and set a $109.00 price target on the stock in a report on Tuesday, August 5th. JPMorgan Chase & Co. upped 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, July 17th. Finally, UBS Group raised shares of Logitech International from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.00.

Logitech International Company Profile

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.