Caitong International Asset Management Co. Ltd Invests $64,000 in Logitech International S.A. (NASDAQ:LOGI)

Caitong International Asset Management Co. Ltd purchased a new stake in shares of Logitech International S.A. (NASDAQ:LOGI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 755 shares of the technology company’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Logitech International by 40.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,658 shares of the technology company’s stock valued at $731,000 after acquiring an additional 2,497 shares during the period. Brown Advisory Inc. raised its stake in shares of Logitech International by 49.9% in the first quarter. Brown Advisory Inc. now owns 9,007 shares of the technology company’s stock worth $760,000 after buying an additional 3,000 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Logitech International by 8.9% during the first quarter. Envestnet Asset Management Inc. now owns 109,716 shares of the technology company’s stock worth $9,261,000 after purchasing an additional 8,971 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Logitech International by 87.3% during the first quarter. Farther Finance Advisors LLC now owns 940 shares of the technology company’s stock worth $80,000 after purchasing an additional 438 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Logitech International by 8,341.0% during the first quarter. GAMMA Investing LLC now owns 12,155 shares of the technology company’s stock worth $1,026,000 after purchasing an additional 12,011 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Logitech International Trading Down 0.6%

Shares of NASDAQ:LOGI opened at $97.76 on Friday. Logitech International S.A. has a 12-month low of $64.73 and a 12-month high of $105.65. The business’s fifty day simple moving average is $92.23 and its 200-day simple moving average is $88.90.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, July 29th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.18. Logitech International had a return on equity of 30.81% and a net margin of 13.78%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $1.13 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 23rd will be paid a dividend of $1.543 per share. This represents a yield of 140.0%. The ex-dividend date is Tuesday, September 23rd. This is a boost from Logitech International’s previous annual dividend of $1.37.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on Logitech International from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Wedbush lifted their price objective on Logitech International from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Citigroup lifted their price objective on Logitech International from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. UBS Group raised Logitech International from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their price objective on Logitech International from $80.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

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.