Envestnet Asset Management Inc. Raises Position in Logitech International S.A. (NASDAQ:LOGI)

Envestnet Asset Management Inc. lifted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 109,716 shares of the technology company's stock after purchasing an additional 8,971 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Logitech International worth $9,261,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LOGI. Norges Bank bought a new stake in Logitech International in the 4th quarter worth $156,888,000. Freestone Grove Partners LP bought a new stake in Logitech International in the 4th quarter worth $39,660,000. Barclays PLC grew its holdings in Logitech International by 8.2% in the 4th quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock worth $448,409,000 after acquiring an additional 414,236 shares during the last quarter. SIH Partners LLLP bought a new stake in Logitech International in the 4th quarter worth $31,886,000. Finally, Pictet Asset Management Holding SA grew its holdings in Logitech International by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock worth $188,254,000 after acquiring an additional 266,167 shares during the last quarter. Institutional investors own 45.76% of the company's stock.

Logitech International Price Performance

NASDAQ LOGI traded up $0.32 during trading hours on Friday, reaching $96.04. 231,637 shares of the company's stock traded hands, compared to its average volume of 731,077. Logitech International S.A. has a 52-week low of $64.73 and a 52-week high of $105.65. The firm has a market cap of $15.41 billion, a PE ratio of 23.14, a PEG ratio of 20.25 and a beta of 0.96. The firm has a 50-day simple moving average of $88.69 and a 200 day simple moving average of $88.07.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly 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 net margin of 13.86% and a return on equity of 30.40%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the company posted $0.99 EPS. Logitech International's revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that Logitech International S.A. will post 4.21 EPS for the current fiscal 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 issued a $1.543 dividend. The ex-dividend date is Tuesday, September 23rd. This is a boost from Logitech International's previous annual dividend of $1.37. This represents a yield of 1.4%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LOGI shares. JPMorgan Chase & Co. raised their price target on shares of Logitech International from $80.00 to $104.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group raised shares of Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Wedbush raised their target price on shares of Logitech International from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday. Barclays dropped their target price on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Citigroup raised their target price on shares of Logitech International from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $92.71.

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.