Achmea Investment Management B.V. Has $2.50 Million Position in Logitech International S.A. (NASDAQ:LOGI)

Achmea Investment Management B.V. trimmed its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 20.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,967 shares of the technology company's stock after selling 7,660 shares during the quarter. Achmea Investment Management B.V.'s holdings in Logitech International were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in LOGI. Norges Bank purchased a new stake in shares of Logitech International in the fourth quarter worth approximately $156,888,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Logitech International by 700.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company's stock worth $61,978,000 after purchasing an additional 655,025 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Logitech International in the fourth quarter worth approximately $39,660,000. Barclays PLC lifted its position in shares of Logitech International by 8.2% in the fourth quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock worth $448,409,000 after purchasing an additional 414,236 shares in the last quarter. Finally, SIH Partners LLLP purchased a new stake in shares of Logitech International in the fourth quarter worth approximately $31,886,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LOGI shares. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Logitech International in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Loop Capital cut their price objective on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. UBS Group raised shares of Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and cut their price objective for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Logitech International has a consensus rating of "Hold" and a consensus price target of $84.29.

Logitech International Stock Up 1.6%

LOGI stock traded up $1.42 during midday trading on Friday, hitting $90.16. 695,243 shares of the company traded hands, compared to its average volume of 638,935. Logitech International S.A. has a twelve month low of $64.73 and a twelve month high of $105.65. The business has a 50 day simple moving average of $83.18 and a 200-day simple moving average of $86.72. The stock has a market capitalization of $14.26 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 18.74 and a beta of 0.96.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.07. Logitech International had a net margin of 13.86% and a return on equity of 30.40%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Logitech International's revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

Logitech International Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Tuesday, September 23rd will be given a dividend of $1.543 per share. The ex-dividend date is Tuesday, September 23rd. This represents a yield of 1.4%. This is a positive change from Logitech International's previous annual dividend of $1.37.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.