Logitech International S.A. (NASDAQ:LOGI) Stake Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 380.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,926 shares of the technology company’s stock after acquiring an additional 97,353 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Logitech International worth $11,883,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strategic Global Advisors LLC acquired a new position in shares of Logitech International during the 4th quarter valued at $238,000. BNP Paribas Financial Markets grew its holdings in Logitech International by 275.9% during the fourth quarter. BNP Paribas Financial Markets now owns 15,598 shares of the technology company’s stock worth $1,483,000 after acquiring an additional 11,449 shares during the period. Dorsey Wright & Associates bought a new stake in Logitech International in the fourth quarter worth about $2,791,000. Russell Investments Group Ltd. raised its position in Logitech International by 86.4% in the first quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company’s stock worth $49,349,000 after acquiring an additional 255,828 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Logitech International by 20.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after acquiring an additional 306,948 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOGI has been the topic of a number of research reports. Barclays boosted their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Loop Capital upped their price target on Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Logitech International presently has an average rating of “Hold” and an average price target of $93.14.

Logitech International Stock Down 0.2 %

LOGI opened at $86.80 on Monday. The firm has a market capitalization of $13.73 billion, a P/E ratio of 22.43, a PEG ratio of 2.45 and a beta of 0.79. The stock has a fifty day moving average of $88.35 and a 200-day moving average of $89.91. Logitech International S.A. has a 12-month low of $65.31 and a 12-month high of $102.59.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.20. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. On average, analysts expect that Logitech International S.A. will post 3.96 earnings per share for the current fiscal year.

Logitech International Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th will be paid a $1.3687 dividend. This represents a yield of 1.4%. The ex-dividend date is Tuesday, September 24th. This is a positive change from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio is currently 13.49%.

Logitech International Company 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.