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

The Manufacturers Life Insurance Company trimmed its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 13.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of LOGI. Vanguard Group Inc. raised its stake in shares of Logitech International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company’s stock valued at $678,420,000 after buying an additional 75,256 shares during the period. Barclays PLC grew its stake in shares of Logitech International by 16.0% during the 4th quarter. Barclays PLC now owns 3,275,064 shares of the technology company’s stock worth $328,227,000 after acquiring an additional 451,357 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Logitech International by 43.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company’s stock worth $304,151,000 after acquiring an additional 906,807 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Logitech International by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock worth $288,430,000 after acquiring an additional 74,702 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Logitech International by 7.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,727,701 shares of the technology company’s stock valued at $297,504,000 after acquiring an additional 191,828 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Performance

Shares of LOGI opened at $102.97 on Friday. The stock’s 50-day simple moving average is $105.60 and its 200 day simple moving average is $98.80. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 3.86 and a beta of 1.17. Logitech International S.A. has a 52-week low of $83.32 and a 52-week high of $129.66.

Logitech International (NASDAQ:LOGI) last issued 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. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 EPS. On average, 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 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 is Tuesday, September 22nd.

Analyst Upgrades and Downgrades

LOGI has been the topic of several recent research reports. Bank of America downgraded 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. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Morgan Stanley dropped their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Finally, Barclays cut 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. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $107.86.

Logitech International 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.