Groupe la Francaise Sells 51,043 Shares of Logitech International S.A. $LOGI

Key Points

• Groupe la Francaise reduced its Logitech stake by 98.5% in the second quarter, selling 51,043 shares and retaining 800 shares valued at approximately $75,000.
• Institutional ownership remains significant at 45.76%, with several major investors—including Arrowstreet Capital, Morgan Stanley and Assenagon Asset Management—substantially increasing their positions.
• Analysts have a consensus “Hold” rating and an average price target of $105.29. Logitech recently exceeded quarterly earnings and revenue estimates, reporting $1.85 in EPS and $1.23 billion in revenue.

Groupe la Francaise cut its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 98.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 800 shares of the technology company's stock after selling 51,043 shares during the period. Groupe la Francaise's holdings in Logitech International were worth $75,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LOGI. Arrowstreet Capital Limited Partnership boosted its holdings in Logitech International by 305.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company's stock worth $227,859,000 after buying an additional 1,570,876 shares during the period. Morgan Stanley raised its holdings in Logitech International by 152.5% during the fourth quarter. Morgan Stanley now owns 2,190,070 shares of the technology company's stock valued at $219,489,000 after acquiring an additional 1,322,582 shares during the period. Assenagon Asset Management S.A. raised its holdings in Logitech International by 2,227.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company's stock valued at $98,189,000 after acquiring an additional 1,000,805 shares during the period. Credit Agricole S A purchased a new position in shares of Logitech International in the third quarter valued at about $104,402,000. Finally, Norges Bank purchased a new position in shares of Logitech International in the fourth quarter valued at about $89,248,000. 45.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LOGI has been the subject of a number of recent analyst reports. Bank of America lowered Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price objective for the company. in a research note on Tuesday, June 30th. Morgan Stanley decreased their target price on Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings cut Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. dropped their price target on Logitech International from $120.00 to $102.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Finally, Wall Street Zen raised shares of Logitech International from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Logitech International presently has an average rating of "Hold" and a consensus target price of $105.29.

Logitech International Stock Performance

Shares of LOGI opened at $98.69 on Thursday. The company's fifty day moving average is $101.30 and its 200 day moving average is $100.47. Logitech International S.A. has a fifty-two week low of $83.32 and a fifty-two week high of $129.66. The stock has a market capitalization of $14.47 billion, a PE ratio of 18.11, a P/E/G ratio of 3.66 and a beta of 1.18.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $1.26 earnings per share. Logitech International's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that Logitech International S.A. will post 5.15 earnings per share for the current year.

Logitech International Cuts Dividend

The firm also recently announced 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. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

About Logitech International

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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