Assenagon Asset Management S.A. Sells 644,971 Shares of Logitech International S.A. $LOGI

Assenagon Asset Management S.A. cut its stake in Logitech International S.A. (NASDAQ:LOGI) by 93.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,937 shares of the technology company’s stock after selling 644,971 shares during the period. Assenagon Asset Management S.A.’s holdings in Logitech International were worth $4,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOGI. Quarry LP acquired a new stake in shares of Logitech International in the 3rd quarter valued at about $30,000. CIBC Private Wealth Group LLC lifted 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 valued at $46,000 after purchasing an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Logitech International by 40.1% during 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. boosted its position in shares of Logitech International by 101.5% during 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 grew its holdings in shares of Logitech International by 911.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after buying an additional 611 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Price Performance

Shares of LOGI opened at $98.63 on Tuesday. The firm has a 50-day moving average of $106.54 and a 200-day moving average of $99.15. Logitech International S.A. has a one year low of $83.32 and a one year high of $129.66. The company has a market cap of $14.46 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.93 EPS. Logitech International’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts expect that Logitech International S.A. will post 5.16 earnings per share for the current year.

Logitech International Cuts Dividend

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

Analysts Set New Price Targets

LOGI has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of Logitech International in a research note on Wednesday, May 6th. Barclays raised their price target 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. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. UBS Group lowered shares of Logitech International from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 17th. Finally, Citigroup increased their target price on shares of Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus price target of $113.67.

About Logitech International

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.