The Manufacturers Life Insurance Company Cuts Holdings in Logitech International S.A. (NASDAQ:LOGI)

The Manufacturers Life Insurance Company reduced its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,807 shares of the technology company’s stock after selling 3,055 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Logitech International were worth $6,461,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in Logitech International during the second quarter worth approximately $35,000. Mather Group LLC. purchased a new stake in Logitech International in the 1st quarter worth $42,000. Employees Retirement System of Texas acquired a new position in Logitech International during the second quarter worth $63,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after purchasing an additional 495 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Logitech International by 2,036.8% in the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,385 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Logitech International Trading Up 0.1 %

Shares of LOGI stock opened at $85.66 on Friday. Logitech International S.A. has a twelve month low of $67.82 and a twelve month high of $102.59. The company’s 50-day moving average price is $87.71 and its 200-day moving average price is $89.60. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.52 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that Logitech International S.A. will post 3.96 EPS for the current year.

Logitech International Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were issued a dividend of $1.3687 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This is a boost 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 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.