GRATRY & Co LLC purchased a new stake in Logitech International S.A. (NASDAQ:LOGI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 31,540 shares of the technology company’s stock, valued at approximately $1,156,000.
A number of other institutional investors have also recently bought and sold shares of LOGI. Janney Montgomery Scott LLC bought a new position in Logitech International during the second quarter worth about $227,000. Fox Run Management L.L.C. bought a new position in shares of Logitech International during the 2nd quarter valued at about $246,000. Quantbot Technologies LP bought a new position in shares of Logitech International during the 2nd quarter valued at about $254,000. Frontier Wealth Management LLC bought a new position in shares of Logitech International during the 2nd quarter valued at about $265,000. Finally, Bayesian Capital Management LP bought a new position in shares of Logitech International during the 2nd quarter valued at about $275,000. Institutional investors and hedge funds own 37.83% of the company’s stock.
Several research firms have recently weighed in on LOGI. Loop Capital began coverage on Logitech International in a report on Monday, July 24th. They set a “buy” rating and a $48.00 price objective on the stock. Zacks Investment Research upgraded Logitech International from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 19th. Finally, Citigroup Inc. began coverage on Logitech International in a report on Thursday, July 6th. They set a “buy” rating and a $44.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $39.50.
In other news, CEO Bracken Darrell sold 49,215 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $36.32, for a total value of $1,787,488.80. Following the transaction, the chief executive officer now owns 940,542 shares in the company, valued at $34,160,485.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vincent Pilette sold 13,804 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $36.25, for a total value of $500,395.00. Following the completion of the transaction, the chief financial officer now owns 460,127 shares in the company, valued at approximately $16,679,603.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 319,245 shares of company stock worth $11,549,298. Corporate insiders own 2.20% of the company’s stock.
Shares of Logitech International S.A. (NASDAQ:LOGI) traded up 0.30% during midday trading on Friday, reaching $36.37. The company had a trading volume of 60,219 shares. The stock has a market capitalization of $5.96 billion, a PE ratio of 27.41 and a beta of 0.59. The stock’s 50 day moving average is $36.09 and its 200-day moving average is $35.43. Logitech International S.A. has a 12-month low of $21.14 and a 12-month high of $40.82.
Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, July 24th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $529.95 million for the quarter, compared to analyst estimates of $521.24 million. Logitech International had a return on equity of 25.18% and a net margin of 9.15%. On average, equities research analysts predict that Logitech International S.A. will post $1.46 earnings per share for the current fiscal year.
The company also recently declared a dividend, which was paid on Wednesday, September 27th. Shareholders of record on Tuesday, September 26th were issued a $0.6454 dividend. The ex-dividend date of this dividend was Monday, September 25th. This is a positive change from Logitech International’s previous dividend of $0.52. Logitech International’s dividend payout ratio is presently 199.19%.
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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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