Bayforest Capital Ltd Acquires 3,753 Shares of Logitech International S.A. (NASDAQ:LOGI)

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Logitech International S.A. by 2,233.9%, acquiring an additional 3,753 shares in the first quarter, bringing its total ownership to 3,921 shares valued at approximately $331,000.
• The company announced an increase in its annual dividend to $1.543 per share, which is payable on September 24th, marking a boost from its previous dividend of $1.37.
• Logitech International reported earnings per share (EPS) of $1.26 for the latest quarter, surpassing analysts' expectations of $1.08, along with a revenue increase of 5.5% year-over-year to $1.15 billion.

Bayforest Capital Ltd boosted its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 2,233.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,921 shares of the technology company's stock after acquiring an additional 3,753 shares during the quarter. Bayforest Capital Ltd's holdings in Logitech International were worth $331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Logitech International in the first quarter valued at about $29,319,000. Mediolanum International Funds Ltd boosted its position in Logitech International by 5.9% in the first quarter. Mediolanum International Funds Ltd now owns 64,057 shares of the technology company's stock valued at $5,624,000 after buying an additional 3,585 shares in the last quarter. Assetmark Inc. boosted its position in Logitech International by 3.1% in the first quarter. Assetmark Inc. now owns 52,735 shares of the technology company's stock valued at $4,451,000 after buying an additional 1,578 shares in the last quarter. Cetera Investment Advisers boosted its position in Logitech International by 14.5% in the first quarter. Cetera Investment Advisers now owns 20,890 shares of the technology company's stock valued at $1,763,000 after buying an additional 2,649 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Logitech International by 7.5% in the first quarter. Venturi Wealth Management LLC now owns 12,365 shares of the technology company's stock valued at $1,044,000 after buying an additional 858 shares in the last quarter. Institutional investors own 45.76% of the company's stock.

Logitech International Price Performance

LOGI opened at $92.88 on Friday. The company has a market cap of $14.39 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 18.43 and a beta of 0.96. The firm has a 50 day simple moving average of $89.57 and a 200 day simple moving average of $88.39. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.18. The business had revenue of $1.15 billion during 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%. Logitech International's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 23rd will be paid a $1.543 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This is a boost from Logitech International's previous annual dividend of $1.37. This represents a yield of 140.0%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LOGI. 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. JPMorgan Chase & Co. boosted their price target on shares of Logitech International from $80.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Bank of America upgraded shares of Logitech International from an "underperform" rating to a "neutral" rating and reduced their price target for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Barclays upped their target price on shares of Logitech International from $92.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Wedbush upped their target price on shares of Logitech International from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.

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