Logitech International S.A. $LOGI Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 59.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,213,116 shares of the technology company's stock after selling 1,778,511 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.83% of Logitech International worth $110,121,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA lifted its stake in shares of Logitech International by 8.7% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company's stock worth $26,777,000 after acquiring an additional 20,866 shares during the period. Willis Investment Counsel increased its stake in shares of Logitech International by 40.0% during the fourth quarter. Willis Investment Counsel now owns 42,747 shares of the technology company's stock worth $4,284,000 after acquiring an additional 12,221 shares during the period. QRG Capital Management Inc. raised its holdings in Logitech International by 65.4% during the fourth quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company's stock worth $3,260,000 after purchasing an additional 12,864 shares in the last quarter. Plato Investment Management Ltd raised its holdings in Logitech International by 65.7% during the fourth quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company's stock worth $4,640,000 after purchasing an additional 17,796 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Logitech International by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company's stock valued at $288,430,000 after purchasing an additional 74,702 shares during the period. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Stock Performance

LOGI opened at $105.78 on Friday. The company has a market capitalization of $15.51 billion, a P/E ratio of 22.04, a PEG ratio of 4.43 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. The company has a 50-day moving average of $106.15 and a 200-day moving average of $98.27.

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. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Logitech International S.A. will post 5.21 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The company also recently declared 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

A number of research firms have recently weighed in on LOGI. Weiss Ratings raised shares of Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 22nd. Morgan Stanley reduced 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 lifted their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Wedbush restated an "outperform" rating and issued a $135.00 price objective on shares of Logitech International in a report on Wednesday. Finally, Citigroup increased their price objective on shares of Logitech International from $115.00 to $124.00 and gave the company a "buy" rating in a research report 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's stock. According to data from MarketBeat.com, Logitech International presently has a consensus rating of "Hold" and an average target price of $109.57.

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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