SEB Asset Management AB Purchases Shares of 306,134 Logitech International S.A. $LOGI

SEB Asset Management AB acquired a new stake in Logitech International S.A. (NASDAQ:LOGI) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 306,134 shares of the technology company’s stock, valued at approximately $27,567,000.

Other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC grew its holdings in Logitech International by 43.3% during the fourth quarter. Park Avenue Securities LLC now owns 28,846 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 8,717 shares during the period. Compagnie Lombard Odier SCmA raised its stake in Logitech International by 8.7% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock valued at $26,777,000 after buying an additional 20,866 shares during the period. Willis Investment Counsel raised its stake in Logitech International by 40.0% in the fourth quarter. Willis Investment Counsel now owns 42,747 shares of the technology company’s stock valued at $4,284,000 after buying an additional 12,221 shares during the period. QRG Capital Management Inc. lifted its position in shares of Logitech International by 65.4% in the fourth quarter. QRG Capital Management Inc. now owns 32,532 shares of the technology company’s stock valued at $3,260,000 after buying an additional 12,864 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in shares of Logitech International by 65.7% in the fourth quarter. Plato Investment Management Ltd now owns 44,871 shares of the technology company’s stock valued at $4,640,000 after buying an additional 17,796 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Stock Performance

Logitech International stock opened at $102.83 on Monday. Logitech International S.A. has a 12 month low of $83.32 and a 12 month high of $129.66. The stock’s 50 day moving average is $106.16 and its 200-day moving average is $98.16. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 4.30 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Logitech International had a return on equity of 34.09% and a net margin of 14.69%.The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. As a group, equities research analysts predict that Logitech International S.A. will post 5.21 earnings per share for the current fiscal year.

Logitech International Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date is Tuesday, September 22nd. This represents a yield of 126.0%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LOGI shares. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price on the stock. in a report on Tuesday, June 30th. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Barclays upped their price objective on shares of Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, Citigroup increased their price objective on shares of Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Logitech International has an average rating of “Hold” and a consensus price target of $109.57.

Logitech International Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.