Public Employees Retirement System of Ohio Sells 48,519 Shares of Logitech International S.A. $LOGI

Public Employees Retirement System of Ohio reduced its stake in Logitech International S.A. (NASDAQ:LOGI) by 28.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,917 shares of the technology company’s stock after selling 48,519 shares during the period. Public Employees Retirement System of Ohio’s holdings in Logitech International were worth $10,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in Logitech International in the third quarter valued at approximately $30,000. CIBC Private Wealth Group LLC grew its holdings in shares of Logitech International by 61.3% in 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 during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 buying an additional 165 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Logitech International by 101.5% in the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after buying an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Logitech International by 911.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock valued at $68,000 after buying an additional 611 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Price Performance

Shares of Logitech International stock opened at $105.78 on Monday. The company has a 50-day moving average of $106.15 and a 200 day moving average of $98.26. The firm has a market cap of $15.51 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 4.43 and a beta of 1.17. Logitech International S.A. has a 1 year low of $83.32 and a 1 year high of $129.66.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company posted $0.93 EPS. Logitech International’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Logitech International S.A. will post 5.21 EPS for the current year.

Logitech International Cuts Dividend

The firm 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 dividend of $1.36 per share. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

Wall Street Analysts Forecast Growth

LOGI has been the subject of several analyst reports. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Morgan Stanley lowered their price objective on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Barclays increased their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Finally, Citigroup boosted their price target on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.57.

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.