194,653 Shares in Logitech International S.A. $LOGI Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 194,653 Logitech shares worth approximately $18.3 million, representing about 0.13% of the company. Institutional investors and hedge funds collectively own 45.76% of Logitech.
• Logitech exceeded quarterly expectations, reporting $1.85 in earnings per share versus the $1.26 consensus estimate and $1.23 billion in revenue, up 7% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $105.29, while the stock recently traded at $97.96. The company declared a $1.36 annual dividend per share.

Public Employees Retirement System of Ohio acquired a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 194,653 shares of the technology company's stock, valued at approximately $18,281,000. Public Employees Retirement System of Ohio owned about 0.13% of Logitech International at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Logitech International during the 3rd quarter worth approximately $30,000. CIBC Private Wealth Group LLC raised its holdings in shares of Logitech International by 61.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company's stock worth $46,000 after acquiring an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position 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 valued at $52,000 after acquiring an additional 165 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 valued at $68,000 after acquiring an additional 611 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake 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 purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company's stock.

Logitech International Stock Down 0.1%

NASDAQ:LOGI opened at $97.96 on Friday. The company has a market cap of $14.36 billion, a P/E ratio of 17.97, a P/E/G ratio of 3.64 and a beta of 1.17. The firm's 50 day moving average is $101.30 and its two-hundred day moving average is $99.86. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.59. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. Research analysts forecast that Logitech International S.A. will post 5.15 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The firm 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.

Analyst Ratings Changes

LOGI has been the topic of several analyst reports. Citigroup raised their price target on shares of Logitech International from $115.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of Logitech International from $120.00 to $102.00 and set a "neutral" rating on the stock in a research report on Thursday, August 20th. Barclays lowered their target price on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Weiss Ratings reissued a "buy (b-)" rating on shares of Logitech International in a research note on Wednesday, August 19th. Finally, Bank of America cut Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price objective on the stock. in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Logitech International currently has a consensus rating of "Hold" and a consensus price target of $105.29.

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.

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