Public Employees Retirement System of Ohio Invests $18.28 Million in Logitech International S.A. $LOGI

Public Employees Retirement System of Ohio bought a new stake in shares of Logitech International S.A. (NASDAQ:LOGI) during the 2nd quarter, HoldingsChannel reports. The firm bought 194,653 shares of the technology company’s stock, valued at approximately $18,281,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foster & Motley Inc. purchased a new stake in Logitech International during the 2nd quarter worth approximately $1,332,000. Plato Investment Management Ltd bought a new stake in Logitech International in the second quarter valued at $3,065,000. Assenagon Asset Management S.A. boosted its holdings in shares of Logitech International by 2,227.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock valued at $98,189,000 after acquiring an additional 1,000,805 shares during the period. Versant Capital Management Inc grew its position in shares of Logitech International by 49.9% during the second quarter. Versant Capital Management Inc now owns 2,625 shares of the technology company’s stock worth $247,000 after acquiring an additional 874 shares during the last quarter. Finally, Militia Capital Management LLC acquired a new stake in shares of Logitech International in the 1st quarter worth about $501,000. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Stock Performance

Shares of LOGI opened at $97.96 on Friday. Logitech International S.A. has a twelve month low of $83.32 and a twelve month high of $129.66. The firm’s 50 day moving average price is $101.30 and its 200 day moving average price is $99.86. The firm has a market cap of $14.36 billion, a PE ratio of 17.97, a PEG ratio of 3.64 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Logitech International S.A. will post 5.15 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The firm also recently disclosed 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. This represents a dividend yield of 126.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LOGI. Bank of America cut Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a research note on Tuesday, June 30th. Wedbush decreased their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Barclays dropped their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $105.29.

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.