Foster & Motley Inc. Invests $270,000 in Logitech International S.A. (NASDAQ:LOGI)

Key Points

• Foster & Motley Inc. acquired a new position in Logitech International S.A. during the first quarter, purchasing 3,199 shares valued at approximately $270,000.
• A variety of institutional investors have recently bought or increased their stakes in Logitech International, with 45.76% of the stock currently owned by institutional investors and hedge funds.
• Logitech announced an increase in its annual dividend to $1.543 per share, with a dividend yield of 140.0%, up from the previous annual dividend of $1.37.

Foster & Motley Inc. purchased a new stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,199 shares of the technology company's stock, valued at approximately $270,000.

Other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in shares of Logitech International during the fourth quarter worth $26,000. Bessemer Group Inc. boosted its position in shares of Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after acquiring an additional 308 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after acquiring an additional 439 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Logitech International during the fourth quarter worth $49,000. Finally, Raiffeisen Bank International AG bought a new position in shares of Logitech International during the fourth quarter worth $59,000. 45.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOGI. JPMorgan Chase & Co. increased their price objective 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. BNP Paribas Exane raised shares of Logitech International from a "neutral" rating to an "outperform" rating and set a $109.00 target price for the company in a research report on Tuesday. BNP Paribas raised shares of Logitech International from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $100.00 to $109.00 in a report on Tuesday. Loop Capital reduced their target price on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Finally, Morgan Stanley lifted their price objective on shares of Logitech International from $74.00 to $78.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $97.00.

Logitech International Trading Up 3.8%

LOGI stock traded up $3.51 during midday trading on Tuesday, reaching $95.78. 851,696 shares of the company's stock traded hands, compared to its average volume of 760,286. Logitech International S.A. has a fifty-two week low of $64.73 and a fifty-two week high of $105.65. The business has a 50-day moving average price of $89.86 and a two-hundred day moving average price of $88.45.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.18. The company 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 30.81%. Logitech International's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 EPS. On average, analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 23rd will be issued a dividend of $1.543 per share. 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 dividend yield of 140.0%.

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.