Bank of Montreal Can Raises Holdings in Logitech International S.A. (NASDAQ:LOGI)

Bank of Montreal Can boosted its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 21.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,056 shares of the technology company’s stock after acquiring an additional 18,288 shares during the quarter. Bank of Montreal Can owned 0.07% of Logitech International worth $10,400,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Acadian Asset Management LLC increased its holdings in shares of Logitech International by 7.4% during the 2nd 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 in the last quarter. Vanguard Group Inc. grew its position in Logitech International by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock valued at $585,478,000 after buying an additional 84,179 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings 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 valued at $174,162,000 after buying an additional 306,948 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Logitech International by 8.0% in the second 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 during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Logitech International by 166.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after acquiring an additional 798,759 shares in the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LOGI. Barclays lifted 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 set a $88.00 target price on shares of Logitech International in a research report on Tuesday, July 16th. Loop Capital lifted their price target on shares of Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. Finally, StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.14.

Logitech International Stock Performance

Shares of LOGI stock opened at $89.09 on Monday. Logitech International S.A. has a fifty-two week low of $67.72 and a fifty-two week high of $102.59. The stock’s fifty day moving average is $87.97 and its two-hundred day moving average is $89.76. The firm has a market capitalization of $14.09 billion, a P/E ratio of 23.02, a PEG ratio of 2.52 and a beta of 0.79.

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

Logitech International Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were given a $1.3687 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This is a positive change from Logitech International’s previous annual dividend of $1.19. This represents a dividend yield of 1.4%. Logitech International’s dividend payout ratio is 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.