Andra AP fonden Trims Holdings in Logitech International S.A. $LOGI

Andra AP fonden decreased its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 96.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,110 shares of the technology company’s stock after selling 196,963 shares during the period. Andra AP fonden’s holdings in Logitech International were worth $648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Quarry LP bought a new stake in Logitech International in the third quarter valued at $30,000. CIBC Private Wealth Group LLC raised its holdings in Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock worth $46,000 after purchasing an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Logitech International by 40.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after purchasing an additional 165 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Logitech International by 101.5% in the 4th quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after purchasing an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Logitech International by 911.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after purchasing an additional 611 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on LOGI shares. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a research report on Tuesday, June 30th. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Morgan Stanley reduced their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Finally, Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of Logitech International in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $109.57.

Logitech International Stock Down 1.5%

Logitech International stock opened at $102.90 on Friday. The business has a 50-day simple moving average of $106.09 and a two-hundred day simple moving average of $98.22. The company has a market cap of $15.08 billion, a P/E ratio of 21.44, a P/E/G ratio of 4.37 and a beta of 1.17. Logitech International S.A. has a 52-week low of $83.32 and a 52-week high of $129.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Logitech International S.A. will post 5.21 EPS for the current fiscal year.

Logitech International Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.