Forsta AP Fonden Raises Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Forsta AP Fonden lifted its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 92.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,174 shares of the technology company’s stock after buying an additional 24,562 shares during the quarter. Forsta AP Fonden’s holdings in Logitech International were worth $4,958,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LOGI. Truist Financial Corp purchased a new stake in shares of Logitech International during the 4th quarter worth approximately $248,000. Victory Capital Management Inc. acquired a new position in shares of Logitech International in the 4th quarter valued at $1,483,000. National Bank of Canada FI increased its holdings in shares of Logitech International by 529.4% in the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after acquiring an additional 360 shares during the period. Private Advisor Group LLC acquired a new position in shares of Logitech International in the 4th quarter valued at $262,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Logitech International by 275.9% in the 4th quarter. BNP Paribas Financial Markets now owns 15,598 shares of the technology company’s stock valued at $1,483,000 after acquiring an additional 11,449 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LOGI. Wedbush reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a report on Tuesday, July 16th. Barclays lifted their target price on shares of Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Loop Capital lifted their target price 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.14.

Logitech International Stock Performance

Shares of LOGI opened at $86.07 on Friday. The stock has a market capitalization of $13.61 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.45 and a beta of 0.79. The company’s fifty day moving average is $88.99 and its two-hundred day moving average is $89.93. Logitech International S.A. has a 1 year low of $65.31 and a 1 year high of $102.59.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Monday, July 22nd. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.78 by $0.20. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. Sell-side analysts predict that Logitech International S.A. will post 3.96 EPS for the current year.

Logitech International Increases Dividend

The business also recently announced 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 a positive change from Logitech International’s previous annual dividend of $1.19. This represents a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 24th.

Logitech International 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.