Groupe la Francaise Acquires Shares of 51,843 Logitech International S.A. $LOGI

Groupe la Francaise acquired a new stake in shares of Logitech International S.A. (NASDAQ:LOGI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,843 shares of the technology company’s stock, valued at approximately $4,668,000.

Several other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Logitech International in the third quarter worth about $30,000. CIBC Private Wealth Group LLC increased its stake in Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock worth $46,000 after acquiring an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after acquiring an additional 165 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Logitech International by 101.5% during the 4th quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock valued at $66,000 after acquiring an additional 334 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Logitech International by 911.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock valued at $68,000 after acquiring an additional 611 shares during the last quarter. 45.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. decreased their target price on shares of Logitech International from $123.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a research report on Tuesday, June 30th. Citigroup upped their price objective on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley lowered their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $107.86.

Logitech International Price Performance

Logitech International stock opened at $102.48 on Friday. The firm has a market capitalization of $15.02 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.73 and a beta of 1.17. Logitech International S.A. has a 1-year low of $83.32 and a 1-year high of $129.66. The company’s 50-day moving average is $106.05 and its 200 day moving average is $98.54.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.59. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. Research analysts anticipate that Logitech International S.A. will post 5.21 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be issued a dividend of $1.36 per share. The ex-dividend date is Tuesday, September 22nd. This represents a 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.