AQR Capital Management LLC Takes Position in Logitech International S.A. (NASDAQ:LOGI)

AQR Capital Management LLC acquired a new position in Logitech International S.A. (NASDAQ:LOGI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,429 shares of the technology company’s stock, valued at approximately $235,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Logitech International by 354.9% during the fourth quarter. Wellington Management Group LLP now owns 43,250 shares of the technology company’s stock worth $4,099,000 after buying an additional 33,742 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Logitech International by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock valued at $585,478,000 after acquiring an additional 84,179 shares during the last quarter. Mather Group LLC. bought a new position in shares of Logitech International in the 1st quarter valued at approximately $42,000. Fulton Bank N.A. lifted its holdings in Logitech International by 19.4% in the 1st quarter. Fulton Bank N.A. now owns 3,971 shares of the technology company’s stock worth $355,000 after purchasing an additional 645 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Logitech International during the first quarter worth approximately $680,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LOGI shares. Wedbush reissued a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research report on Tuesday, July 16th. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Loop Capital upped their price target on shares of Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Finally, Barclays lifted their price objective on Logitech International from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and an average target price of $93.14.

Logitech International Price Performance

NASDAQ LOGI opened at $87.60 on Friday. The company’s fifty day moving average is $87.62 and its two-hundred day moving average is $89.37. Logitech International S.A. has a 52-week low of $67.82 and a 52-week high of $102.59. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.20. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. As a group, sell-side analysts expect that Logitech International S.A. will post 3.96 earnings per share for the current fiscal year.

Logitech International Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were issued a dividend of $1.3687 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 24th. This is a positive change from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio (DPR) is presently 13.49%.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.