Logitech International S.A. $LOGI Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,324 shares of the technology company’s stock after selling 11,429 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Logitech International were worth $5,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Logitech International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company’s stock valued at $678,420,000 after purchasing an additional 75,256 shares during the period. Barclays PLC raised its position in Logitech International by 16.0% in the 4th quarter. Barclays PLC now owns 3,275,064 shares of the technology company’s stock valued at $328,227,000 after purchasing an additional 451,357 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Logitech International by 43.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock valued at $304,151,000 after purchasing an additional 906,807 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 valued at $288,430,000 after buying an additional 74,702 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Logitech International by 7.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock valued at $297,504,000 after buying an additional 191,828 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Performance

Shares of NASDAQ LOGI opened at $101.78 on Tuesday. The stock’s 50-day simple moving average is $106.06 and its 200-day simple moving average is $98.15. The firm has a market capitalization of $14.92 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 4.30 and a beta of 1.17. Logitech International S.A. has a fifty-two week low of $83.32 and a fifty-two week high of $129.66.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results 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. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 earnings per share. On average, sell-side analysts forecast that Logitech International S.A. will post 5.21 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The business 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. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LOGI. Morgan Stanley cut their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. 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. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a report on Tuesday, June 30th. Citigroup increased 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. Finally, Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of Logitech International in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $109.57.

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.