Daiwa Securities Group Inc. Sells 2,794 Shares of Logitech International S.A. (NASDAQ:LOGI)

Daiwa Securities Group Inc. trimmed its stake in Logitech International S.A. (NASDAQ:LOGI) by 34.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,270 shares of the technology company’s stock after selling 2,794 shares during the period. Daiwa Securities Group Inc.’s holdings in Logitech International were worth $473,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC grew its stake in Logitech International by 63.4% in the third quarter. Cerity Partners LLC now owns 5,125 shares of the technology company’s stock valued at $460,000 after purchasing an additional 1,989 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Logitech International by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock worth $1,455,000 after buying an additional 1,206 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of Logitech International in the 3rd quarter worth approximately $485,000. Landscape Capital Management L.L.C. bought a new position in shares of Logitech International during the 3rd quarter worth approximately $2,372,000. Finally, Strengthening Families & Communities LLC lifted its position in Logitech International by 9.2% during the third quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock valued at $404,000 after acquiring an additional 378 shares during the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Stock Up 2.1 %

Shares of NASDAQ LOGI opened at $80.89 on Friday. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $102.59. The business’s 50 day moving average price is $83.20 and its 200 day moving average price is $88.92. The firm has a market cap of $12.79 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.80 and a beta of 0.81.

Logitech International Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th were given a dividend of $1.3687 per share. This represents a yield of 1.4%. This is a boost from Logitech International’s previous annual dividend of $1.19. The ex-dividend date was Tuesday, September 24th.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LOGI shares. Loop Capital cut their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Barclays lowered their price target on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a report on Wednesday, October 23rd. Finally, UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.00.

Insider Buying and Selling at Logitech International

In other news, Director Guy Gecht bought 2,500 shares of Logitech International stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the purchase, the director now owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. The trade was a 15.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Logitech International Profile

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.