SEB Asset Management AB Makes New $27.57 Million Investment in Logitech International S.A. $LOGI

Key Points

• SEB Asset Management AB disclosed a new stake in Logitech International, buying 306,134 shares worth about $27.57 million in the first quarter. The position represents roughly 0.21% of the company.
• Logitech’s latest earnings beat expectations, with Q1 EPS of $1.13 versus the $1.10 consensus and revenue of $1.09 billion, up 7.4% year over year. The company also posted a strong 34.09% return on equity.
• Analyst sentiment remains mixed: Logitech has an average Hold rating and a consensus price target of $109.57. Recent calls ranged from Morgan Stanley’s underweight rating to Citigroup’s higher $124 target and buy rating.

SEB Asset Management AB purchased a new stake in Logitech International S.A. (NASDAQ:LOGI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 306,134 shares of the technology company's stock, valued at approximately $27,567,000. SEB Asset Management AB owned approximately 0.21% of Logitech International as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. Quarry LP bought a new stake in Logitech International in the 3rd quarter valued at $30,000. CIBC Private Wealth Group LLC increased its holdings in Logitech International by 61.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company's stock worth $46,000 after purchasing an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 165 shares during the period. Richardson Financial Services Inc. raised its stake in shares of Logitech International by 101.5% in the 4th quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company's stock valued at $66,000 after purchasing an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Logitech International by 911.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company's stock valued at $68,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 45.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley reduced their price objective 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. Weiss Ratings raised Logitech International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 22nd. Citigroup boosted their target price 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 research report on Sunday, April 26th. Finally, Barclays raised their price target 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. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Logitech International has an average rating of "Hold" and a consensus target price of $109.57.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $102.83 on Monday. The stock has a market capitalization of $15.07 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 4.30 and a beta of 1.17. The business has a 50-day moving average of $106.16 and a 200-day moving average of $98.16. Logitech International S.A. has a fifty-two week low of $83.32 and a fifty-two week high of $129.66.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.03. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. Logitech International's quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that Logitech International S.A. will post 5.21 EPS for the current year.

Logitech International Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

About Logitech International

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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