QRG Capital Management Inc. Trims Stock Position in Logitech International S.A. $LOGI

QRG Capital Management Inc. lessened its stake in Logitech International S.A. (NASDAQ:LOGI) by 21.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 25,397 shares of the technology company’s stock after selling 7,135 shares during the period. QRG Capital Management Inc.’s holdings in Logitech International were worth $2,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LOGI. Vanguard Group Inc. raised its position in Logitech International by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company’s stock valued at $678,420,000 after acquiring an additional 75,256 shares in the last quarter. Barclays PLC lifted its stake in shares of Logitech International by 16.0% in the 4th quarter. Barclays PLC now owns 3,275,064 shares of the technology company’s stock valued at $328,227,000 after purchasing an additional 451,357 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Logitech International by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock worth $304,151,000 after buying an additional 906,807 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Logitech International by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock worth $288,430,000 after buying an additional 74,702 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Logitech International by 7.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock valued at $297,504,000 after buying an additional 191,828 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 weighed in on LOGI. UBS Group downgraded shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th. Citigroup increased their price target on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a research note on Tuesday, June 30th. Finally, Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $109.71.

Logitech International Price Performance

LOGI stock traded down $0.58 during trading on Tuesday, hitting $96.85. The stock had a trading volume of 159,315 shares, compared to its average volume of 1,166,822. Logitech International S.A. has a twelve month low of $83.32 and a twelve month high of $129.66. The company’s 50-day moving average price is $106.18 and its two-hundred day moving average price is $98.41. The stock has a market capitalization of $14.20 billion, a P/E ratio of 20.10, a PEG ratio of 3.97 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, May 5th. The technology company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. As a group, sell-side analysts expect that Logitech International S.A. will post 5.16 EPS for the current fiscal year.

Logitech International Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 22nd will be given a $1.36 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.