Plato Investment Management Ltd Makes New $3.06 Million Investment in Logitech International S.A. $LOGI

Key Points

• Plato Investment Management acquired 32,839 Logitech shares worth approximately $3.06 million, while institutional investors collectively own 45.76% of the company.
• Logitech reported quarterly EPS of $1.85, beating estimates of $1.26, as revenue rose 7% year over year to $1.23 billion.
• Shares opened at $103.09, compared with a consensus analyst target of $107.86; coverage remains mixed, resulting in an overall “Hold” rating.

Plato Investment Management Ltd acquired a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,839 shares of the technology company's stock, valued at approximately $3,065,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in Logitech International in the third quarter valued at approximately $30,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company's stock valued at $46,000 after buying an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Logitech International by 40.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company's stock valued at $52,000 after buying an additional 165 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Logitech International by 911.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company's stock valued at $68,000 after buying an additional 611 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Logitech International by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company's stock worth $82,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company's stock.

Logitech International Price Performance

NASDAQ LOGI opened at $103.09 on Monday. The stock has a market capitalization of $15.11 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.79 and a beta of 1.17. Logitech International S.A. has a 52-week low of $83.32 and a 52-week high of $129.66. The firm has a 50-day moving average price of $103.59 and a 200 day moving average price of $99.28.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings results 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 return on equity of 37.30% and a net margin of 16.28%.The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the firm earned $1.26 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that Logitech International S.A. will post 5.2 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The business 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. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LOGI. Morgan Stanley decreased their target price on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a research report on Wednesday, July 8th. Citigroup boosted 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. Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Barclays lowered their target price on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Finally, Bank of America cut shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 target price on the stock. in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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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