Allianz Asset Management GmbH Trims Holdings in Logitech International S.A. (NASDAQ:LOGI)

Allianz Asset Management GmbH cut its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 857,374 shares of the technology company's stock after selling 177,810 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.54% of Logitech International worth $71,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Logitech International by 2.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company's stock worth $507,000 after buying an additional 120 shares in the last quarter. Freedom Investment Management Inc. raised its stake in Logitech International by 4.1% in the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company's stock valued at $284,000 after purchasing an additional 136 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Logitech International by 7.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company's stock valued at $267,000 after purchasing an additional 230 shares in the last quarter. Parallel Advisors LLC raised its stake in Logitech International by 20.5% in the first quarter. Parallel Advisors LLC now owns 1,425 shares of the technology company's stock valued at $121,000 after purchasing an additional 242 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Logitech International by 12.8% in the first quarter. Blue Trust Inc. now owns 2,364 shares of the technology company's stock valued at $200,000 after purchasing an additional 269 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on LOGI shares. Loop Capital reduced their price target 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. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and dropped their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. Barclays lowered their price objective on Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Citigroup lifted their price target on Logitech International from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on Logitech International from $80.00 to $104.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Logitech International has an average rating of "Hold" and a consensus price target of $92.71.

Logitech International Stock Up 0.9%

Shares of Logitech International stock traded up $0.91 during trading hours on Friday, reaching $96.63. 344,858 shares of the stock traded hands, compared to its average volume of 732,104. The company has a 50 day moving average price of $88.69 and a 200 day moving average price of $88.07. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 20.25 and a beta of 0.96. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65.

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

Logitech International Increases Dividend

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

About Logitech International

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.