Logitech International S.A. (NASDAQ:LOGI) Stock Position Raised by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 380.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,926 shares of the technology company’s stock after buying an additional 97,353 shares during the quarter. Hsbc Holdings PLC’s holdings in Logitech International were worth $11,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in LOGI. Ashton Thomas Private Wealth LLC bought a new stake in Logitech International in the second quarter worth approximately $35,000. Mather Group LLC. bought a new stake in Logitech International in the first quarter worth $42,000. Blue Trust Inc. increased its position in Logitech International by 2,036.8% during the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock worth $130,000 after buying an additional 1,385 shares during the last quarter. Syquant Capital Sas bought a new position in Logitech International during the second quarter valued at about $184,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Logitech International by 17.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,078 shares of the technology company’s stock worth $186,000 after buying an additional 314 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analyst Weigh In

LOGI has been the topic of a number of analyst reports. Wedbush reissued a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a report on Tuesday, July 16th. Barclays upped 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. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Loop Capital upped their price objective on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $93.14.

Logitech International Trading Down 0.2 %

Shares of Logitech International stock opened at $86.80 on Monday. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.45 and a beta of 0.79. Logitech International S.A. has a 1 year low of $65.31 and a 1 year high of $102.59. The company’s fifty day simple moving average is $88.35 and its 200-day simple moving average is $89.91.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. As a group, research analysts forecast 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 declared an annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th will be issued a $1.3687 dividend. This is a boost from Logitech International’s previous annual dividend of $1.19. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a yield of 1.4%. Logitech International’s dividend payout ratio is 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.