Logitech International S.A. $LOGI Shares Purchased by Amundi

Key Points

• Amundi increased its Logitech stake by 51.2% in the first quarter, acquiring 563,564 additional shares and bringing its holdings to 1.67 million shares worth approximately $151.7 million. Institutional investors and hedge funds collectively own 45.76% of the company.
• Logitech reported quarterly earnings of $1.85 per share, beating the $1.26 analyst consensus, while revenue reached $1.23 billion and rose 7% year over year.
• Analyst sentiment remains mixed, with Logitech holding an overall “Hold” rating and an average price target of $107.86, compared with shares opening at $102.48.

Amundi increased its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 51.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,665,096 shares of the technology company's stock after purchasing an additional 563,564 shares during the quarter. Amundi owned 1.14% of Logitech International worth $151,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of Logitech International by 305.7% during the third 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 increased its stake in shares of Logitech International by 152.5% during the fourth quarter. Morgan Stanley now owns 2,190,070 shares of the technology company's stock worth $219,489,000 after acquiring an additional 1,322,582 shares during the period. Credit Agricole S A acquired a new stake in shares of Logitech International in the 3rd quarter valued at approximately $104,402,000. Norges Bank purchased a new stake in shares of Logitech International in the fourth quarter valued at approximately $89,248,000. Finally, Marshall Wace LLP boosted its stake in shares of Logitech International by 131.2% in the fourth quarter. Marshall Wace LLP now owns 1,273,720 shares of the technology company's stock valued at $129,125,000 after buying an additional 722,887 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Performance

Shares of LOGI opened at $102.48 on Friday. The firm has a fifty day moving average of $106.05 and a 200-day moving average of $98.54. The company 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 S.A. has a 1 year low of $83.32 and a 1 year high of $129.66.

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

Logitech International Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on LOGI shares. Morgan Stanley dropped their price objective on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a research note on Wednesday, July 8th. Wedbush decreased their price objective on shares of Logitech International from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday. Wall Street Zen downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Weiss Ratings upgraded shares of Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reduced 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 analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Logitech International currently has an average rating of "Hold" and an average target price of $107.86.

Logitech International Company 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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