LPL Financial LLC Sells 6,658 Shares of Logitech International S.A. $LOGI

LPL Financial LLC lessened its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 16.6% in the 1st quarter, according to its most recent Form 13F 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Logitech International by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 130,019 shares of the technology company’s stock valued at $10,707,000 after purchasing an additional 1,140 shares during the period. Cerity Partners LLC lifted its holdings in Logitech International by 9.4% during the fourth quarter. Cerity Partners LLC now owns 5,608 shares of the technology company’s stock worth $481,000 after buying an additional 483 shares during the period. Raymond James Financial Inc. purchased a new stake in Logitech International during the fourth quarter worth $4,162,000. Mariner LLC lifted its holdings in Logitech International by 12.1% during the fourth quarter. Mariner LLC now owns 25,540 shares of the technology company’s stock worth $2,103,000 after buying an additional 2,751 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Logitech International by 6.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 276,788 shares of the technology company’s stock worth $22,882,000 after buying an additional 17,355 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analyst Upgrades and Downgrades

LOGI has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Logitech International from $80.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Wedbush upped their price target on Logitech International from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. UBS Group raised Logitech International from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 7th. Loop Capital cut their target price 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. Finally, BNP Paribas raised Logitech International from a “hold” rating to a “strong-buy” rating and upped their target price for the company from $100.00 to $109.00 in a research report on Tuesday, August 5th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Logitech International Stock Performance

NASDAQ:LOGI opened at $97.76 on Monday. The company has a fifty day simple moving average of $92.23 and a two-hundred day simple moving average of $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 issued its earnings results on Tuesday, July 29th. The technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Logitech International had a net margin of 13.78% and a return on equity of 30.81%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Equities analysts expect 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 $1.543 dividend. This is a boost from Logitech International’s previous annual dividend of $1.37. This represents a yield of 140.0%. The ex-dividend date is Tuesday, September 23rd.

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.