47,678 Shares in Logitech International S.A. (NASDAQ:LOGI) Acquired by Sienna Gestion

Sienna Gestion bought a new position in shares of Logitech International S.A. (NASDAQ:LOGI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 47,678 shares of the technology company’s stock, valued at approximately $4,609,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in Logitech International by 7.4% in the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after purchasing an additional 457,630 shares during the period. Vanguard Group Inc. increased its stake in shares of Logitech International by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after buying an additional 84,179 shares during the period. Norges Bank acquired a new stake in Logitech International in the fourth quarter valued at approximately $214,130,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Logitech International by 20.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock worth $174,162,000 after acquiring an additional 306,948 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Logitech International by 8.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock worth $157,324,000 after acquiring an additional 120,000 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Performance

Logitech International stock opened at $85.69 on Thursday. The company has a market capitalization of $13.55 billion, a P/E ratio of 22.14, a PEG ratio of 2.45 and a beta of 0.79. Logitech International S.A. has a fifty-two week low of $65.31 and a fifty-two week high of $102.59. The stock has a 50-day simple moving average of $88.65 and a 200-day simple moving average of $89.91.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. As a group, analysts forecast that Logitech International S.A. will post 3.96 earnings per share for the current year.

Logitech International Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th will be given a dividend of $1.3687 per share. This is an increase from Logitech International’s previous annual dividend of $1.19. This represents a yield of 1.4%. The ex-dividend date is Tuesday, September 24th. Logitech International’s dividend payout ratio (DPR) is presently 13.49%.

Analysts Set New Price Targets

LOGI has been the topic of a number of analyst reports. Loop Capital raised their price objective on shares of Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Barclays raised their price target on Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a report on Tuesday, July 16th. Finally, StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $93.14.

About Logitech International

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.