J. Safra Sarasin Holding AG Sells 16,681 Shares of Logitech International S.A. $LOGI

J. Safra Sarasin Holding AG lowered its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 525,715 shares of the technology company’s stock after selling 16,681 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Logitech International were worth $47,347,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its position in Logitech International by 43.3% during the 4th quarter. Park Avenue Securities LLC now owns 28,846 shares of the technology company’s stock worth $2,891,000 after acquiring an additional 8,717 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its stake in Logitech International by 8.7% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock worth $26,777,000 after purchasing an additional 20,866 shares in the last quarter. Willis Investment Counsel boosted its stake in Logitech International by 40.0% in the fourth quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock worth $4,284,000 after purchasing an additional 12,221 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of Logitech International by 65.7% during the fourth quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock worth $4,640,000 after purchasing an additional 17,796 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Logitech International by 65.4% in the fourth quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock valued at $3,260,000 after buying an additional 12,864 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LOGI has been the subject of a number of research analyst reports. Citigroup lifted 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. Bank of America lowered shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a report on Tuesday, June 30th. Barclays boosted their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Morgan Stanley reduced their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.57.

Logitech International Price Performance

Shares of LOGI opened at $101.95 on Monday. The stock’s fifty day simple moving average is $106.45 and its 200-day simple moving average is $98.27. The firm has a market capitalization of $14.94 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 4.27 and a beta of 1.17. Logitech International S.A. has a 12-month low of $83.32 and a 12-month high of $129.66.

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

Logitech International Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be paid a dividend of $1.36 per share. This represents a dividend yield of 126.0%. The ex-dividend date of this dividend is Tuesday, September 22nd. Logitech International’s payout ratio is 10.88%.

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.