Ritholtz Wealth Management Sells 1,074 Shares of Logitech International S.A. (NASDAQ:LOGI)

Ritholtz Wealth Management lessened its position in shares of Logitech International S.A. (NASDAQ:LOGI) by 12.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,557 shares of the technology company’s stock after selling 1,074 shares during the period. Ritholtz Wealth Management’s holdings in Logitech International were worth $678,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Logitech International during the 2nd quarter worth approximately $35,000. Mather Group LLC. bought a new position in Logitech International during the 1st quarter worth $42,000. Employees Retirement System of Texas acquired a new stake in shares of Logitech International during the second quarter worth $63,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Logitech International by 139.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after acquiring an additional 495 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Logitech International by 2,036.8% in the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,385 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Stock Performance

Shares of LOGI stock opened at $87.41 on Wednesday. Logitech International S.A. has a fifty-two week low of $67.82 and a fifty-two week high of $102.59. The stock’s fifty day moving average price is $87.53 and its two-hundred day moving average price is $89.41. The company has a market cap of $13.82 billion, a PE ratio of 22.59, a P/E/G ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. On average, equities analysts predict that Logitech International S.A. will post 3.96 EPS for the current fiscal year.

Logitech International Increases Dividend

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

Analyst Ratings Changes

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