Bank of New York Mellon Corp Sells 34,575 Shares of Logitech International S.A. $LOGI

Bank of New York Mellon Corp lowered its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 10.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,766 shares of the technology company’s stock after selling 34,575 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.20% of Logitech International worth $26,859,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA increased its holdings in Logitech International by 8.7% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock valued at $26,777,000 after purchasing an additional 20,866 shares in the last quarter. Willis Investment Counsel raised its position in Logitech International by 40.0% in the 4th quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock valued at $4,284,000 after purchasing an additional 12,221 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Logitech International by 65.4% in the fourth quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock worth $3,260,000 after purchasing an additional 12,864 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of Logitech International by 65.7% during the fourth quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock worth $4,640,000 after purchasing an additional 17,796 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Logitech International by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock worth $288,430,000 after purchasing an additional 74,702 shares during the last quarter. 45.76% of the stock is owned by institutional investors.

Logitech International Trading Up 1.9%

Logitech International stock opened at $107.82 on Tuesday. Logitech International S.A. has a 1 year low of $83.32 and a 1 year high of $129.66. The company has a market cap of $15.81 billion, a PE ratio of 22.46, a PEG ratio of 4.43 and a beta of 1.17. The company’s 50-day moving average is $106.20 and its two-hundred day moving average is $98.33.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. Logitech International’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 EPS. Research analysts forecast that Logitech International S.A. will post 5.21 EPS for the current year.

Logitech International Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be paid 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%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LOGI shares. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of Logitech International in a research report on Wednesday, July 22nd. Morgan Stanley lowered their price objective on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Barclays upped their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $109.57.

Logitech International 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.