Logitech International S.A. $LOGI Stock Holdings Lifted by Bank of America Corp DE

Bank of America Corp DE grew its position in Logitech International S.A. (NASDAQ:LOGI) by 16.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 915,733 shares of the technology company’s stock after acquiring an additional 129,967 shares during the quarter. Bank of America Corp DE’s holdings in Logitech International were worth $83,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOGI. Quarry LP acquired a new stake in shares of Logitech International during the 3rd quarter valued at about $30,000. CIBC Private Wealth Group LLC increased its holdings in Logitech International by 61.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock worth $46,000 after buying an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock valued at $52,000 after acquiring an additional 165 shares in the last quarter. Richardson Financial Services Inc. raised its position in Logitech International by 101.5% during the fourth 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in 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 acquiring an additional 611 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOGI. Morgan Stanley decreased their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. JPMorgan Chase & Co. cut their price target on shares of Logitech International from $123.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Bank of America lowered shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a research note on Tuesday, June 30th. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Finally, Wedbush cut their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $107.86.

Logitech International Stock Up 3.3%

Shares of Logitech International stock opened at $106.33 on Friday. The stock has a market capitalization of $15.59 billion, a P/E ratio of 19.51, a PEG ratio of 3.88 and a beta of 1.17. The stock has a 50 day moving average price of $105.28 and a two-hundred day moving average price of $98.86. Logitech International S.A. has a 12-month low of $83.32 and a 12-month high of $129.66.

Logitech International (NASDAQ:LOGI) last announced 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 company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Logitech International S.A. will post 5.24 earnings per share for the current year.

Logitech International Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be paid a $1.36 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a yield of 126.0%.

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.