Plato Investment Management Ltd Makes New $3.06 Million Investment in Logitech International S.A. $LOGI

Plato Investment Management Ltd purchased a new stake in Logitech International S.A. (NASDAQ:LOGI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,839 shares of the technology company’s stock, valued at approximately $3,065,000.

Other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in Logitech International by 65.4% during the 4th 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. Bank of America Corp DE raised its stake in Logitech International by 16.5% in the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock valued at $83,442,000 after purchasing an additional 129,967 shares during the last quarter. Entropy Technologies LP boosted its stake in shares of Logitech International by 647.0% during the 1st quarter. Entropy Technologies LP now owns 18,921 shares of the technology company’s stock worth $1,724,000 after purchasing an additional 16,388 shares during the last quarter. Amundi boosted its stake in shares of Logitech International by 51.2% during the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after purchasing an additional 563,564 shares during the last quarter. Finally, Groupe la Francaise purchased a new stake in shares of Logitech International during the first quarter worth about $4,668,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LOGI shares. Wedbush cut their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Morgan Stanley decreased 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 report on Wednesday, July 8th. Barclays cut their price target 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. Citigroup increased 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. Finally, Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $107.86.

Logitech International Stock Performance

Shares of LOGI stock opened at $103.09 on Monday. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.79 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 has a 50 day moving average price of $103.59 and a 200 day moving average price of $99.28.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $1.26 EPS. Logitech International’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that Logitech International S.A. will post 5.2 EPS for the current fiscal year.

Logitech International Cuts Dividend

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

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.