Freedom Investment Management Inc. Cuts Stock Position in Logitech International S.A. (NASDAQ:LOGI)

Freedom Investment Management Inc. lessened its holdings in Logitech International S.A. (NASDAQ:LOGI) by 31.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,308 shares of the technology company’s stock after selling 1,489 shares during the period. Freedom Investment Management Inc.’s holdings in Logitech International were worth $297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOGI. Assenagon Asset Management S.A. increased its stake in Logitech International by 166.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after buying an additional 798,759 shares during the period. Acadian Asset Management LLC increased its stake in Logitech International by 7.4% during the 2nd quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock worth $644,642,000 after buying an additional 457,630 shares during the period. Marshall Wace LLP increased its stake in Logitech International by 57.3% during the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after buying an additional 164,307 shares during the period. Renaissance Technologies LLC increased its stake 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 worth $157,324,000 after buying an additional 120,000 shares during the period. Finally, Achmea Investment Management B.V. increased its stake in Logitech International by 444.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 130,634 shares of the technology company’s stock worth $12,636,000 after buying an additional 106,622 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Performance

NASDAQ LOGI opened at $80.89 on Monday. Logitech International S.A. has a one year low of $74.72 and a one year high of $102.59. The company has a 50-day simple moving average of $83.20 and a 200-day simple moving average of $88.92. The firm has a market capitalization of $12.79 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81.

Logitech International Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were issued a $1.3687 dividend. 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 11.63%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Guy Gecht bought 2,500 shares of Logitech International stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $81.12 per share, with a total value of $202,800.00. Following the purchase, the director now directly owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Logitech International Company 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.