SkyOak Wealth LLC Invests $313,000 in Logitech International S.A. (NASDAQ:LOGI)

SkyOak Wealth LLC acquired a new position in Logitech International S.A. (NASDAQ:LOGI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,230 shares of the technology company’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of Logitech International by 7.4% in the 2nd quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock worth $644,642,000 after purchasing an additional 457,630 shares in the last quarter. Vanguard Group Inc. raised its position in 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 purchasing an additional 84,179 shares during the last quarter. Norges Bank bought a new position in Logitech International during the 4th quarter valued at approximately $214,130,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Logitech International by 20.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after purchasing an additional 306,948 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Logitech International by 8.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock valued at $157,324,000 after purchasing an additional 120,000 shares during the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Stock Down 1.5 %

Logitech International stock opened at $85.69 on Thursday. The company has a market capitalization of $13.55 billion, a P/E ratio of 22.18, a PEG ratio of 2.45 and a beta of 0.79. The stock’s 50 day moving average is $88.65 and its 200 day moving average is $89.91. Logitech International S.A. has a twelve month low of $65.31 and a twelve month high of $102.59.

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

Logitech International Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th will be paid a $1.3687 dividend. The ex-dividend date is Tuesday, September 24th. This represents a dividend yield of 1.4%. This is an increase from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio is presently 13.49%.

Analysts Set New Price Targets

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

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.