Arrowstreet Capital Limited Partnership Has $110.12 Million Holdings in Logitech International S.A. $LOGI

Arrowstreet Capital Limited Partnership lessened its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 59.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,213,116 shares of the technology company’s stock after selling 1,778,511 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Logitech International were worth $110,121,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Morgan Stanley lifted its holdings in Logitech International by 152.5% in the 4th quarter. Morgan Stanley now owns 2,190,070 shares of the technology company’s stock worth $219,489,000 after purchasing an additional 1,322,582 shares during the last quarter. Credit Agricole S A bought a new position in Logitech International in the 3rd quarter worth approximately $104,402,000. Norges Bank acquired a new position in shares of Logitech International during the fourth quarter worth approximately $89,248,000. Marshall Wace LLP raised its stake in Logitech International by 131.2% during the 4th quarter. Marshall Wace LLP now owns 1,273,720 shares of the technology company’s stock valued at $129,125,000 after purchasing an additional 722,887 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Logitech International by 3,203.4% during the 4th quarter. AQR Capital Management LLC now owns 681,597 shares of the technology company’s stock valued at $69,836,000 after purchasing an additional 660,964 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LOGI shares. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a research report on Wednesday. Morgan Stanley decreased their price objective 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. Bank of America lowered shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a report on Tuesday, June 30th. Finally, Barclays lifted their price target on Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and an average price target of $109.57.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $105.78 on Friday. Logitech International S.A. has a fifty-two week low of $83.32 and a fifty-two week high of $129.66. The company’s 50 day simple moving average is $106.15 and its 200 day simple moving average is $98.27. The firm has a market capitalization of $15.51 billion, a P/E ratio of 22.04, a P/E/G ratio of 4.43 and a beta of 1.17.

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

Logitech International Cuts Dividend

The business 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. The ex-dividend date is Tuesday, September 22nd. This represents a dividend yield of 126.0%.

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.