Bank of New York Mellon Corp Sells 34,575 Shares of Logitech International S.A. $LOGI

Bank of New York Mellon Corp cut its position in Logitech International S.A. (NASDAQ:LOGI) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 294,766 shares of the technology company’s stock after selling 34,575 shares during the period. Bank of New York Mellon Corp’s holdings in Logitech International were worth $26,859,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

LOGI has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Weiss Ratings upgraded Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Barclays boosted their price objective on Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Citigroup increased their target price on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Logitech International has an average rating of “Hold” and a consensus price target of $109.57.

Logitech International Stock Up 1.9%

NASDAQ:LOGI opened at $107.82 on Tuesday. Logitech International S.A. has a twelve month low of $83.32 and a twelve month high of $129.66. The business has a 50 day moving average price of $106.20 and a two-hundred day moving average price of $98.33. The company has a market cap of $15.81 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 4.43 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating 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 firm 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. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts anticipate that Logitech International S.A. will post 5.21 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a yield of 126.0%.

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.