Entropy Technologies LP Increases Stake in Logitech International S.A. $LOGI

Entropy Technologies LP raised its stake in Logitech International S.A. (NASDAQ:LOGI) by 647.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,921 shares of the technology company’s stock after acquiring an additional 16,388 shares during the quarter. Entropy Technologies LP’s holdings in Logitech International were worth $1,724,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Compagnie Lombard Odier SCmA lifted its stake in shares of Logitech International by 8.7% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock valued at $26,777,000 after purchasing an additional 20,866 shares during the period. Willis Investment Counsel boosted its holdings in Logitech International by 40.0% during the fourth quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock worth $4,284,000 after buying an additional 12,221 shares in the last quarter. QRG Capital Management Inc. grew its position in Logitech International by 65.4% during the fourth quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock valued at $3,260,000 after buying an additional 12,864 shares during the period. Plato Investment Management Ltd grew its position in Logitech International by 65.7% during the fourth quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock valued at $4,640,000 after buying an additional 17,796 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Logitech International by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock valued at $288,430,000 after buying an additional 74,702 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on LOGI shares. Barclays upped their price objective on shares of Logitech International from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Citigroup raised their target price on Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of Logitech International in a research note on Wednesday, July 22nd. Morgan Stanley reduced 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. Finally, Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $109.57.

Logitech International Trading Up 1.9%

NASDAQ:LOGI opened at $107.82 on Tuesday. The stock has a 50 day moving average of $106.20 and a two-hundred day moving average of $98.33. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66. The firm 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 released its earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. On average, research analysts forecast that Logitech International S.A. will post 5.21 earnings per share for the current year.

Logitech International Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be issued a $1.36 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a 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.