Prudential PLC Purchases 10,040 Shares of Logitech International S.A. (NASDAQ:LOGI)

Key Points

• Prudential PLC increased its stake in Logitech International by 28.7%, acquiring 10,040 shares during the first quarter, raising its total holdings to 45,031 shares valued at $3,765,000.
• Analysts have adjusted price targets for Logitech International, with Morgan Stanley and Wedbush raising their targets to $78.00 and $115.00, respectively, while the stock holds an average rating of "Moderate Buy".
• Logitech International announced an increase in its annual dividend to $1.543 per share, representing a substantial 140.0% dividend yield, indicating strong commitment to returning value to shareholders.

Prudential PLC lifted its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,031 shares of the technology company's stock after acquiring an additional 10,040 shares during the quarter. Prudential PLC's holdings in Logitech International were worth $3,765,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Banque Transatlantique SA acquired a new stake in Logitech International during the 4th quarter valued at $26,000. Bessemer Group Inc. grew its position in Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock valued at $27,000 after purchasing an additional 308 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after buying an additional 439 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Logitech International during the 4th quarter valued at $59,000. Finally, Farther Finance Advisors LLC boosted its position in Logitech International by 87.3% during the first quarter. Farther Finance Advisors LLC now owns 940 shares of the technology company's stock valued at $80,000 after purchasing an additional 438 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LOGI. Morgan Stanley lifted their target price on shares of Logitech International from $74.00 to $78.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Barclays raised their target price on Logitech International from $92.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Loop Capital reduced their price objective on shares of Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Logitech International from $80.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, BNP Paribas Exane upgraded shares of Logitech International from a "neutral" rating to an "outperform" rating and set a $109.00 target price on the stock in a report on Tuesday, August 5th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.00.

Logitech International Stock Down 0.6%

Shares of NASDAQ:LOGI traded down $0.59 during midday trading on Friday, hitting $97.76. The stock had a trading volume of 404,348 shares, compared to its average volume of 863,315. The company has a market cap of $15.46 billion, a P/E ratio of 23.22, a PEG ratio of 4.41 and a beta of 0.94. Logitech International S.A. has a 12 month low of $64.73 and a 12 month high of $105.65. The business's 50-day simple moving average is $92.23 and its 200-day simple moving average is $88.85.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.18. Logitech International had a return on equity of 30.81% and a net margin of 13.78%. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the business earned $1.13 EPS. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Tuesday, September 23rd will be issued a dividend of $1.543 per share. This represents a yield of 140.0%. The ex-dividend date of this dividend is Tuesday, September 23rd. This is an increase from Logitech International's previous annual dividend of $1.37. Logitech International's payout ratio is 12.40%.

Logitech International Profile

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.