Logitech International S.A. $LOGI Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in Logitech International S.A. (NASDAQ:LOGI) by 3.3% during the 1st quarter, HoldingsChannel reports. The fund owned 2,961,337 shares of the technology company’s stock after selling 100,176 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Logitech International were worth $266,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Logitech International in the 3rd quarter valued at approximately $30,000. CIBC Private Wealth Group LLC lifted its stake in 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 last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Logitech International by 40.1% during the second 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. Richardson Financial Services Inc. boosted its holdings in Logitech International by 101.5% in the fourth 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 boosted its holdings in Logitech International by 911.9% in the fourth 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. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LOGI. Barclays increased their target price 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. Citigroup boosted their price objective on shares of Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wedbush reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Logitech International in a research report on Wednesday, May 6th. UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen cut Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and a consensus price target of $113.67.

Logitech International Stock Performance

Shares of NASDAQ:LOGI opened at $97.50 on Friday. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.48 and a beta of 1.13. Logitech International S.A. has a 1-year low of $83.32 and a 1-year high of $129.66. The company has a 50 day moving average price of $106.55 and a 200 day moving average price of $99.43.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that Logitech International S.A. will post 5.16 EPS for the current fiscal year.

Logitech International Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be issued a $1.36 dividend. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

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.