Navellier & Associates Inc purchased a new stake in Logitech International S.A. (NASDAQ:LOGI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,485 shares of the technology company’s stock, valued at approximately $201,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Kimelman & Baird LLC purchased a new stake in Logitech International in the second quarter valued at $220,000. Janney Montgomery Scott LLC purchased a new stake in Logitech International in the second quarter valued at $227,000. Fox Run Management L.L.C. purchased a new stake in Logitech International in the second quarter valued at $246,000. Quantbot Technologies LP purchased a new stake in Logitech International in the second quarter valued at $254,000. Finally, Frontier Wealth Management LLC purchased a new stake in Logitech International in the second quarter valued at $265,000. 37.83% of the stock is owned by hedge funds and other institutional investors.
Logitech International S.A. (NASDAQ LOGI) opened at 36.71 on Friday. The firm has a 50-day moving average of $36.36 and a 200-day moving average of $35.64. Logitech International S.A. has a 1-year low of $21.19 and a 1-year high of $40.82. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 27.66 and a beta of 0.59.
Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, July 24th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. Logitech International had a net margin of 9.15% and a return on equity of 25.18%. The company had revenue of $529.95 million for the quarter, compared to the consensus estimate of $521.24 million. On average, analysts expect that Logitech International S.A. will post $1.44 earnings per share for the current year.
The firm also recently declared a dividend, which was paid on Wednesday, September 27th. Stockholders of record on Tuesday, September 26th were given a $0.6454 dividend. This is an increase from Logitech International’s previous dividend of $0.52. The ex-dividend date was Monday, September 25th. Logitech International’s dividend payout ratio (DPR) is presently 199.19%.
LOGI has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Citigroup Inc. initiated coverage on shares of Logitech International in a research note on Thursday, July 6th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Loop Capital initiated coverage on shares of Logitech International in a research note on Monday, July 24th. They issued a “buy” rating and a $48.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.50.
In related news, CFO Vincent Pilette sold 13,804 shares of Logitech International stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $36.25, for a total value of $500,395.00. Following the sale, the chief financial officer now directly owns 460,127 shares in the company, valued at approximately $16,679,603.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Luca Guerrino De sold 15,000 shares of Logitech International stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.04, for a total transaction of $540,600.00. Following the completion of the sale, the insider now owns 321,204 shares in the company, valued at $11,576,192.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 319,245 shares of company stock worth $11,549,298. Insiders own 2.20% of the company’s stock.
About Logitech International
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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