Banque Cantonale Vaudoise Buys Shares of 350,957 Logitech International S.A. (NASDAQ:LOGI)

Key Points

• Banque Cantonale Vaudoise has invested approximately $29.32 million in Logitech International, acquiring 350,957 shares, making it the fund's 9th biggest holding.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and GAMMA Investing LLC, have significantly increased their stakes in Logitech during the first quarter.
• Logitech's annual dividend will be increased to $1.543 per share, reflecting a 1.4% yield and a boost from the previous dividend of $1.37.

Banque Cantonale Vaudoise acquired a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 350,957 shares of the technology company's stock, valued at approximately $29,319,000. Logitech International comprises about 1.3% of Banque Cantonale Vaudoise's investment portfolio, making the stock its 9th biggest holding. Banque Cantonale Vaudoise owned about 0.22% of Logitech International at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LOGI. LPL Financial LLC lifted its position in Logitech International by 122.9% in the 4th quarter. LPL Financial LLC now owns 40,115 shares of the technology company's stock valued at $3,303,000 after purchasing an additional 22,122 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Logitech International by 18.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 92,697 shares of the technology company's stock valued at $7,700,000 after buying an additional 14,657 shares during the period. Korea Investment CORP increased its stake in Logitech International by 74.6% during the 4th quarter. Korea Investment CORP now owns 83,839 shares of the technology company's stock valued at $6,942,000 after buying an additional 35,814 shares during the period. Norges Bank acquired a new position in Logitech International during the 4th quarter valued at about $156,888,000. Finally, Orion Portfolio Solutions LLC increased its stake in Logitech International by 10.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,094 shares of the technology company's stock valued at $502,000 after buying an additional 560 shares during the period. 45.76% of the stock is currently owned by institutional investors.

Logitech International Stock Down 3.6%

Shares of Logitech International stock traded down $3.39 during trading on Friday, hitting $89.49. The stock had a trading volume of 586,172 shares, compared to its average volume of 752,448. The stock has a 50 day simple moving average of $89.57 and a 200 day simple moving average of $88.39. The company has a market capitalization of $14.15 billion, a PE ratio of 21.23, a P/E/G ratio of 18.43 and a beta of 0.96. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.18. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Logitech International had a net margin of 13.78% and a return on equity of 31.08%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. As a group, equities 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 declared an annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Tuesday, September 23rd will be issued a dividend of $1.543 per share. This is an increase from Logitech International's previous annual dividend of $1.37. This represents a dividend yield of 140.0%. The ex-dividend date is Tuesday, September 23rd. Logitech International's dividend payout ratio is 12.40%.

Analyst Upgrades and Downgrades

Several research firms have commented on LOGI. Loop Capital lowered their target price on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Citigroup raised their target price on shares of Logitech International from $85.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Morgan Stanley raised their target price on shares of Logitech International from $74.00 to $78.00 and gave the company an "equal weight" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Logitech International from $80.00 to $104.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Wedbush lifted their price objective on shares of Logitech International from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $93.57.

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.