Bank Julius Baer & Co. Ltd Zurich Sells 78,829 Shares of Logitech International S.A. (NASDAQ:LOGI)

Bank Julius Baer & Co. Ltd Zurich cut its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 10.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 669,751 shares of the technology company's stock after selling 78,829 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.42% of Logitech International worth $56,599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Logitech International by 2.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company's stock valued at $507,000 after acquiring an additional 120 shares during the last quarter. Freedom Investment Management Inc. grew 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 acquiring an additional 136 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Logitech International by 7.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the technology company's stock worth $267,000 after acquiring an additional 230 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Logitech International by 20.5% during the first quarter. Parallel Advisors LLC now owns 1,425 shares of the technology company's stock worth $121,000 after purchasing an additional 242 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Logitech International by 12.8% during the first quarter. Blue Trust Inc. now owns 2,364 shares of the technology company's stock worth $200,000 after purchasing an additional 269 shares during the period. Institutional investors own 45.76% of the company's stock.

Logitech International Price Performance

NASDAQ:LOGI traded up $0.99 on Friday, hitting $96.71. 378,617 shares of the company's stock were exchanged, compared to its average volume of 732,387. The firm has a 50-day moving average price of $88.69 and a 200-day moving average price of $88.07. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $105.65. The company has a market cap of $15.41 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 20.25 and a beta of 0.96.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its 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. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. Logitech International's quarterly revenue was down .1% on a year-over-year basis. On average, research analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LOGI. Barclays decreased 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. 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. UBS Group raised shares of Logitech International from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Loop Capital dropped their price target on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Finally, Citigroup upped their price objective on Logitech International from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Logitech International currently has an average rating of "Hold" and an average price target of $92.71.

Logitech International 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.