Evelyn Partners Investment Management LLP Lowers Position in Logitech International S.A. $LOGI

Evelyn Partners Investment Management LLP lessened its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 33.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,209 shares of the technology company’s stock after selling 7,130 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Logitech International were worth $1,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Compagnie Lombard Odier SCmA raised its stake in Logitech International by 8.7% in the fourth 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 grew its stake in Logitech International by 40.0% in the 4th quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock worth $4,284,000 after buying an additional 12,221 shares in the last quarter. QRG Capital Management Inc. grew its stake in Logitech International by 65.4% in the 4th quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock worth $3,260,000 after buying an additional 12,864 shares in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Logitech International by 65.7% in the 4th quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock worth $4,640,000 after buying an additional 17,796 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Logitech International by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock worth $288,430,000 after buying an additional 74,702 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analysts Set New Price Targets

LOGI has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a research note on Tuesday, June 30th. Morgan Stanley lowered their price target on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Finally, Citigroup lifted their price target on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $109.57.

Logitech International Stock Performance

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

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that Logitech International S.A. will post 5.21 EPS for the current year.

Logitech International Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be paid a $1.36 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a yield of 126.0%. Logitech International’s payout ratio is currently 10.88%.

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.