Mediolanum International Funds Ltd Acquires 3,585 Shares of Logitech International S.A. (NASDAQ:LOGI)

Key Points

• Mediolanum International Funds Ltd increased its holdings in Logitech International S.A. by 5.9%, owning 64,057 shares valued at approximately $5.62 million.
• Logitech International reported a higher-than-expected EPS of $0.93 for the recent quarter, surpassing the consensus estimate by $0.07.
• The company announced an increase in its annual dividend to $1.543 per share, reflecting a boost from the previous dividend of $1.37.

Mediolanum International Funds Ltd grew its stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,057 shares of the technology company's stock after acquiring an additional 3,585 shares during the quarter. Mediolanum International Funds Ltd's holdings in Logitech International were worth $5,624,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. raised its stake in shares of Logitech International by 3.1% in the first quarter. Assetmark Inc. now owns 52,735 shares of the technology company's stock worth $4,451,000 after purchasing an additional 1,578 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Logitech International by 14.5% in the first quarter. Cetera Investment Advisers now owns 20,890 shares of the technology company's stock worth $1,763,000 after purchasing an additional 2,649 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Logitech International by 7.5% in the first quarter. Venturi Wealth Management LLC now owns 12,365 shares of the technology company's stock worth $1,044,000 after purchasing an additional 858 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Logitech International by 16.6% in the first quarter. Kestra Private Wealth Services LLC now owns 9,449 shares of the technology company's stock worth $798,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Logitech International by 390.2% in the first quarter. Cerity Partners LLC now owns 27,493 shares of the technology company's stock worth $2,321,000 after purchasing an additional 21,885 shares during the last quarter. 45.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LOGI shares. Citigroup boosted their price target on Logitech International from $85.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. UBS Group upgraded Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Barclays upped their price objective on Logitech International from $92.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Logitech International from $80.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley upped their price objective on Logitech International from $74.00 to $78.00 and gave the company an "equal weight" rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $93.57.

Logitech International Stock Up 2.9%

LOGI traded up $2.61 during midday trading on Thursday, reaching $93.58. The company had a trading volume of 917,902 shares, compared to its average volume of 749,820. The business has a 50-day moving average of $89.45 and a two-hundred day moving average of $88.34. The company has a market cap of $14.83 billion, a P/E ratio of 22.24, a P/E/G ratio of 19.49 and a beta of 0.96. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.18. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. Logitech International had a return on equity of 31.08% and a net margin of 13.78%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 earnings per share. On average, equities research analysts predict that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Tuesday, September 23rd will be paid a $1.543 dividend. This is a positive change from Logitech International's previous annual dividend of $1.37. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a dividend yield of 1.4%.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.