Banque Pictet & Cie SA Boosts Position in Logitech International S.A. (NASDAQ:LOGI)

Banque Pictet & Cie SA increased its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 441.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,223 shares of the technology company's stock after purchasing an additional 16,486 shares during the quarter. Banque Pictet & Cie SA's holdings in Logitech International were worth $1,690,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOGI. Charles Schwab Investment Management Inc. boosted its stake in shares of Logitech International by 27.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,614 shares of the technology company's stock valued at $1,698,000 after purchasing an additional 4,403 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Logitech International during the 4th quarter worth approximately $4,162,000. PNC Financial Services Group Inc. boosted its position in Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company's stock worth $458,000 after acquiring an additional 127 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Logitech International by 21.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,776 shares of the technology company's stock worth $229,000 after acquiring an additional 484 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Logitech International by 16.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company's stock worth $123,000 after acquiring an additional 213 shares during the last quarter. Institutional investors own 45.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LOGI shares. Loop Capital cut their price objective on Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Barclays cut their price target on Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and cut their price target for the company from $90.00 to $73.00 in a report on Friday, April 4th. Finally, Citigroup cut their price target on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Logitech International presently has a consensus rating of "Hold" and a consensus target price of $84.29.

Logitech International Stock Up 0.5%

NASDAQ:LOGI traded up $0.49 during trading hours on Thursday, hitting $94.95. 401,340 shares of the company traded hands, compared to its average volume of 639,400. The firm's 50-day simple moving average is $85.84 and its 200-day simple moving average is $87.22. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65. The company has a market cap of $15.02 billion, a PE ratio of 22.88, a PEG ratio of 19.20 and a beta of 0.96.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.03 billion. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. As a group, equities research analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 23rd will be issued a $1.543 dividend. This represents a yield of 1.4%. This is an increase from Logitech International's previous annual dividend of $1.37. The ex-dividend date is Tuesday, September 23rd. Logitech International's payout ratio is 12.58%.

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.