Logitech International S.A. $LOGI Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Logitech International by 16.0% in the first quarter, buying 10,227 additional shares to bring its total holding to 74,249 shares worth about $6.77 million.
• Logitech’s latest quarterly results beat expectations, with EPS of $1.13 versus the $1.10 consensus and revenue of $1.09 billion, up 7.4% year over year.
• Wall Street sentiment is mixed: analysts currently have a Hold consensus on the stock, with a mean target price of $109.57, while the shares recently traded at $102.91.

Assetmark Inc. lifted its holdings in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 16.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,249 shares of the technology company's stock after acquiring an additional 10,227 shares during the quarter. Assetmark Inc. owned about 0.05% of Logitech International worth $6,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its holdings in Logitech International by 15.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company's stock worth $86,000 after acquiring an additional 114 shares during the period. Pathstone Holdings LLC raised its stake in shares of Logitech International by 0.7% during the third quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company's stock valued at $1,812,000 after purchasing an additional 120 shares during the period. Signaturefd LLC lifted its position in shares of Logitech International by 2.0% during the fourth quarter. Signaturefd LLC now owns 6,167 shares of the technology company's stock worth $618,000 after purchasing an additional 122 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Logitech International by 1.3% during the second quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company's stock worth $918,000 after purchasing an additional 126 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Logitech International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company's stock valued at $971,000 after purchasing an additional 126 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wedbush reissued an "outperform" rating and issued a $135.00 price objective on shares of Logitech International in a research report on Wednesday, May 6th. Wall Street Zen lowered Logitech International from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Bank of America cut Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price target on the stock. in a research note on Tuesday, June 30th. Morgan Stanley reduced their price target on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a report on Wednesday, July 8th. Finally, Citigroup raised their price objective on Logitech International from $115.00 to $124.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Three equities 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $109.57.

Logitech International Price Performance

Logitech International stock opened at $102.91 on Wednesday. The company has a market cap of $15.09 billion, a PE ratio of 21.44, a P/E/G ratio of 4.26 and a beta of 1.17. The company has a fifty day moving average price of $106.04 and a two-hundred day moving average price of $98.17. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 EPS. Equities research analysts anticipate that Logitech International S.A. will post 5.21 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. Investors of record on Tuesday, September 22nd will be given a $1.36 dividend. This represents a 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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