Assetmark Inc. Acquires 48,514 Shares of Logitech International S.A. (NASDAQ:LOGI)

Assetmark Inc. boosted its holdings in Logitech International S.A. (NASDAQ:LOGI) by 6,766.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,231 shares of the technology company’s stock after acquiring an additional 48,514 shares during the period. Assetmark Inc.’s holdings in Logitech International were worth $4,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of Logitech International by 7.4% in the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after purchasing an additional 457,630 shares during the period. Renaissance Technologies LLC raised its holdings in Logitech International by 8.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock valued at $157,324,000 after acquiring an additional 120,000 shares during the period. Assenagon Asset Management S.A. lifted its position in Logitech International by 166.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after acquiring an additional 798,759 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Logitech International by 6.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 601,826 shares of the technology company’s stock worth $58,214,000 after purchasing an additional 37,852 shares during the last quarter. Finally, Liontrust Investment Partners LLP boosted its stake in Logitech International by 5.7% in the 2nd quarter. Liontrust Investment Partners LLP now owns 490,760 shares of the technology company’s stock valued at $47,470,000 after purchasing an additional 26,583 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Loop Capital lowered their price objective on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Wedbush reissued a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a report on Wednesday, October 23rd. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Barclays lowered their price objective on Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $93.00.

Insider Buying and Selling at Logitech International

In related news, Director Guy Gecht purchased 2,500 shares of the stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Logitech International Stock Performance

Logitech International stock opened at $77.29 on Wednesday. The stock has a fifty day moving average of $84.92 and a 200-day moving average of $89.33. The stock has a market capitalization of $12.22 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.82 and a beta of 0.81. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $102.59.

Logitech International Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th were paid a $1.3687 dividend. This is an increase from Logitech International’s previous annual dividend of $1.19. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a yield of 1.4%. Logitech International’s dividend payout ratio is presently 11.63%.

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.