The Manufacturers Life Insurance Company Sells 9,120 Shares of Logitech International S.A. $LOGI

The Manufacturers Life Insurance Company lessened its holdings in Logitech International S.A. (NASDAQ:LOGI) by 13.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,976 shares of the technology company’s stock after selling 9,120 shares during the period. The Manufacturers Life Insurance Company’s holdings in Logitech International were worth $5,429,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Logitech International in the 3rd quarter valued at about $30,000. CIBC Private Wealth Group LLC grew its holdings in shares of Logitech International by 61.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock worth $46,000 after purchasing an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Logitech International by 40.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after purchasing an additional 165 shares during the last quarter. Richardson Financial Services Inc. raised its stake in Logitech International by 101.5% in the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock valued at $66,000 after purchasing an additional 334 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Logitech International by 911.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock valued at $68,000 after purchasing an additional 611 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Trading Down 2.6%

LOGI opened at $102.97 on Friday. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66. The business’s 50-day moving average price is $105.60 and its 200-day moving average price is $98.80. The company has a market cap of $15.09 billion, a P/E ratio of 18.89, a P/E/G ratio of 3.86 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.59. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.Logitech International’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. Equities research analysts forecast that Logitech International S.A. will post 5.24 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have recently issued reports on LOGI. Wedbush cut their price objective on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Bank of America lowered 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. Citigroup lifted their price target on shares of Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays lowered their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Logitech International currently has an average rating of “Hold” and a consensus price target of $107.86.

About Logitech International

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.