Groupe la Francaise Buys Shares of 51,843 Logitech International S.A. $LOGI

Key Points

• Groupe la Francaise acquired 51,843 Logitech shares worth approximately $4.7 million, while institutional investors collectively own 45.76% of the company.
• Logitech reported quarterly EPS of $1.85, beating estimates of $1.26, with revenue of $1.23 billion up 7% year over year.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $107.86.

Groupe la Francaise acquired a new position in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 51,843 shares of the technology company's stock, valued at approximately $4,668,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Logitech International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company's stock worth $678,420,000 after acquiring an additional 75,256 shares during the last quarter. Barclays PLC increased its stake in shares of Logitech International by 16.0% in the 4th quarter. Barclays PLC now owns 3,275,064 shares of the technology company's stock worth $328,227,000 after purchasing an additional 451,357 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Logitech International by 43.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company's stock worth $304,151,000 after purchasing an additional 906,807 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Logitech International by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company's stock worth $288,430,000 after purchasing an additional 74,702 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Logitech International by 7.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company's stock worth $297,504,000 after purchasing an additional 191,828 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Up 0.9%

NASDAQ LOGI opened at $102.48 on Friday. Logitech International S.A. has a twelve month low of $83.32 and a twelve month high of $129.66. The business has a 50-day moving average price of $106.05 and a 200-day moving average price of $98.54. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 3.73 and a beta of 1.17.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.59. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned $1.26 EPS. The firm's quarterly revenue was up 7.0% on a year-over-year basis. Research analysts expect that Logitech International S.A. will post 5.21 EPS for the current fiscal year.

Logitech International Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

Analyst Ratings Changes

Several research firms have issued reports on LOGI. Citigroup boosted their price target on Logitech International from $115.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Morgan Stanley lowered their price objective on Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 8th. Barclays cut their price objective on Logitech International from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Wednesday. Weiss Ratings upgraded shares of Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Logitech International from $123.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $107.86.

Logitech International Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company's product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.

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