Logitech International S.A. $LOGI Shares Purchased by Prudential PLC

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 grew its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,031 shares of the technology company's stock after purchasing an additional 10,040 shares during the period. Prudential PLC's holdings in Logitech International were worth $3,765,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Logitech International by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 130,019 shares of the technology company's stock valued at $10,707,000 after purchasing an additional 1,140 shares during the last quarter. Cerity Partners LLC boosted its stake in Logitech International by 9.4% in the 4th quarter. Cerity Partners LLC now owns 5,608 shares of the technology company's stock valued at $481,000 after buying an additional 483 shares in the last quarter. Advisory Services Network LLC bought a new position in Logitech International during the 4th quarter valued at about $661,000. Raymond James Financial Inc. acquired a new stake in shares of Logitech International during the fourth quarter worth approximately $4,162,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after acquiring an additional 308 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Stock Performance

Shares of LOGI traded up $0.55 on Monday, reaching $98.31. The company's stock had a trading volume of 214,289 shares, compared to its average volume of 752,686. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The stock's 50 day simple moving average is $92.23 and its two-hundred day simple moving average is $88.77.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. Logitech International had a net margin of 13.78% and a return on equity of 30.81%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the business posted $1.13 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. 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 company also recently announced an annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Tuesday, September 23rd will be given a $1.543 dividend. This represents a dividend yield of 140.0%. The ex-dividend date of this dividend is Tuesday, September 23rd. This is a positive change from Logitech International's previous annual dividend of $1.37.

Analyst Ratings Changes

LOGI has been the subject of several recent research reports. Barclays boosted their price objective on Logitech International from $92.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Loop Capital decreased their price objective on Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. UBS Group raised Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. BNP Paribas Exane raised Logitech International from a "neutral" rating to an "outperform" rating and set a $109.00 price target for the company in a report on Tuesday, August 5th. Finally, Morgan Stanley raised their target price on shares of Logitech International from $74.00 to $78.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Logitech International currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.00.

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.