Azzad Asset Management Inc. ADV Has $4.64 Million Stake in Logitech International S.A. $LOGI

Key Points

• Azzad Asset Management increased its stake in Logitech International by 35.1% in the first quarter, ending with 50,906 shares valued at about $4.64 million.
• Logitech reported stronger-than-expected quarterly results, posting $1.13 EPS on $1.09 billion in revenue, both slightly ahead of analyst estimates, with revenue up 7.4% year over year.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $109.57, while recent rating changes included both upgrades and downgrades.

Azzad Asset Management Inc. ADV boosted its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 35.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,906 shares of the technology company's stock after purchasing an additional 13,218 shares during the period. Azzad Asset Management Inc. ADV's holdings in Logitech International were worth $4,639,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LOGI. Quarry LP acquired a new position in shares of Logitech International during the third quarter worth $30,000. CIBC Private Wealth Group LLC increased its holdings in Logitech International by 61.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company's stock valued at $46,000 after purchasing an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company's stock worth $52,000 after purchasing an additional 165 shares during the last quarter. Richardson Financial Services Inc. raised its position in Logitech International by 101.5% during the 4th quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company's stock worth $66,000 after purchasing an additional 334 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Logitech International by 911.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company's stock worth $68,000 after buying an additional 611 shares during the period. 45.76% of the stock is currently owned by institutional investors.

Logitech International Trading Up 3.9%

NASDAQ:LOGI opened at $101.67 on Friday. The stock has a market capitalization of $14.90 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 4.13 and a beta of 1.17. The firm has a fifty day simple moving average of $106.37 and a two-hundred day simple moving average of $98.28. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business's revenue was up 7.4% on a year-over-year basis. Equities analysts predict that Logitech International S.A. will post 5.16 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The company 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 $1.36 dividend. This represents a yield of 126.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Analyst Upgrades and Downgrades

LOGI has been the topic of a number of analyst reports. UBS Group lowered Logitech International from a "buy" rating to a "neutral" rating in a research report on Tuesday, March 17th. Citigroup lifted their price objective on Logitech International from $115.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Morgan Stanley reduced their target price on Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a report on Wednesday. Barclays increased their target price on shares of Logitech International from $98.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Logitech International from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Logitech International has a consensus rating of "Hold" and a consensus price target of $109.57.

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.

Want to see what other hedge funds are holding LOGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Logitech International S.A. (NASDAQ:LOGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.