Royal Bank of Canada Purchases 170,485 Shares of Logitech International S.A. $LOGI

Royal Bank of Canada raised its position in Logitech International S.A. (NASDAQ:LOGI) by 75.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 396,339 shares of the technology company’s stock after purchasing an additional 170,485 shares during the period. Royal Bank of Canada owned approximately 0.27% of Logitech International worth $36,115,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Logitech International by 61.2% during the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock worth $352,000 after buying an additional 1,585 shares during the period. Rhumbline Advisers increased its holdings in shares of Logitech International by 3.3% in the second quarter. Rhumbline Advisers now owns 4,732 shares of the technology company’s stock worth $426,000 after acquiring an additional 152 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Logitech International by 40.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after acquiring an additional 165 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Logitech International by 13.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock worth $160,000 after purchasing an additional 206 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of Logitech International by 1.3% during the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LOGI shares. JPMorgan Chase & Co. reduced their price target on shares of Logitech International from $123.00 to $120.00 and set a “neutral” rating for the company in a report on Friday. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Barclays cut their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley lowered their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a report on Wednesday, July 8th. Finally, Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research note on Tuesday, June 30th. 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 company. According to data from MarketBeat, Logitech International presently has an average rating of “Hold” and a consensus target price of $107.86.

Logitech International Stock Performance

Shares of NASDAQ:LOGI opened at $105.11 on Tuesday. 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 $15.41 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 3.76 and a beta of 1.17. The company has a 50-day simple moving average of $105.90 and a 200 day simple moving average of $98.60.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.26 by $0.59. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, equities analysts forecast that Logitech International S.A. will post 5.21 earnings per share for the current year.

Logitech International Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be paid a dividend of $1.36 per share. This represents a 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.