QRG Capital Management Inc. Sells 7,135 Shares of Logitech International S.A. $LOGI

QRG Capital Management Inc. lessened its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,397 shares of the technology company’s stock after selling 7,135 shares during the quarter. QRG Capital Management Inc.’s holdings in Logitech International were worth $2,314,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its position in shares of Logitech International by 43.3% during the fourth quarter. Park Avenue Securities LLC now owns 28,846 shares of the technology company’s stock valued at $2,891,000 after buying an additional 8,717 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Logitech International by 28.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 339,790 shares of the technology company’s stock worth $37,015,000 after acquiring an additional 74,772 shares in the last quarter. Compagnie Lombard Odier SCmA raised its stake in shares of Logitech International by 8.7% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock worth $26,777,000 after acquiring an additional 20,866 shares in the last quarter. Willis Investment Counsel lifted its position in Logitech International by 40.0% during the fourth quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock valued at $4,284,000 after acquiring an additional 12,221 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its stake in Logitech International by 65.7% in the fourth quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock valued at $4,640,000 after acquiring an additional 17,796 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LOGI shares. Citigroup raised their price objective on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. 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. Barclays boosted their price target on Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of Logitech International in a research note on Wednesday, May 6th. Finally, UBS Group downgraded shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th. Three 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.com, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $109.71.

Logitech International Price Performance

Logitech International stock traded down $0.58 during trading hours on Tuesday, hitting $96.85. 159,315 shares of the stock traded hands, compared to its average volume of 1,166,822. The firm’s 50 day moving average price is $106.18 and its 200-day moving average price is $98.41. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 3.97 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 released its earnings results 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 the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. Research analysts forecast that Logitech International S.A. will post 5.16 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 issued a $1.36 dividend. This represents a dividend yield of 126.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

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.