Victory Capital Management Inc. Invests $358,000 in Logitech International S.A. (NASDAQ:LOGI)

Victory Capital Management Inc. bought a new stake in Logitech International S.A. (NASDAQ:LOGI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,700 shares of the technology company’s stock, valued at approximately $358,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its holdings in shares of Logitech International by 1.3% in the 2nd quarter. TD Asset Management Inc now owns 447,218 shares of the technology company’s stock valued at $43,049,000 after purchasing an additional 5,813 shares in the last quarter. Ritholtz Wealth Management raised its stake in Logitech International by 99.9% in the second quarter. Ritholtz Wealth Management now owns 8,631 shares of the technology company’s stock valued at $836,000 after buying an additional 4,313 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Logitech International by 35.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 47,079 shares of the technology company’s stock worth $4,561,000 after buying an additional 12,315 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in Logitech International by 22.3% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 8,650 shares of the technology company’s stock worth $838,000 after buying an additional 1,576 shares during the last quarter. Finally, Liontrust Investment Partners LLP boosted its position in shares of Logitech International by 5.7% during the 2nd quarter. Liontrust Investment Partners LLP now owns 490,760 shares of the technology company’s stock worth $47,470,000 after acquiring an additional 26,583 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analyst Upgrades and Downgrades

LOGI has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research note on Tuesday, July 16th. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Loop Capital increased their target price on shares of Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Finally, Barclays boosted their price target on shares of Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. 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 MarketBeat, Logitech International currently has an average rating of “Hold” and an average price target of $93.14.

Logitech International Stock Performance

Shares of LOGI opened at $86.95 on Tuesday. Logitech International S.A. has a fifty-two week low of $65.31 and a fifty-two week high of $102.59. The firm has a 50-day simple moving average of $88.24 and a 200-day simple moving average of $89.90. The company has a market capitalization of $13.75 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 2.45 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Logitech International S.A. will post 3.96 EPS for the current year.

Logitech International Increases Dividend

The company 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 is a boost 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 payout ratio is currently 13.49%.

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.