Foster & Motley Inc. Purchases New Stake in Logitech International S.A. $LOGI

Foster & Motley Inc. acquired a new stake in Logitech International S.A. (NASDAQ:LOGI) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 14,168 shares of the technology company’s stock, valued at approximately $1,332,000.

A number of other hedge funds also recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Logitech International during the third quarter worth approximately $30,000. CIBC Private Wealth Group LLC increased its stake in shares of Logitech International by 61.3% during the fourth 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 during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Logitech International by 40.1% during 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 during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $68,000 after purchasing an additional 611 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Logitech International by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Stock Performance

Shares of NASDAQ:LOGI opened at $100.47 on Thursday. Logitech International S.A. has a 52-week low of $83.32 and a 52-week high of $129.66. The company has a market capitalization of $14.73 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 3.61 and a beta of 1.17. The company has a fifty day moving average of $102.88 and a 200-day moving average of $99.50.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $1.26 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Logitech International S.A. will post 5.2 EPS for the current fiscal 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 issued a dividend of $1.36 per share. This represents a yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

Wall Street Analyst Weigh In

LOGI has been the subject of a number of research reports. Barclays dropped their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Wedbush decreased their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Finally, Bank of America downgraded shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $107.86.

About Logitech International

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.