Bank of Montreal Can Sells 8,677 Shares of Logitech International S.A. (NASDAQ:LOGI)

Bank of Montreal Can lowered its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,379 shares of the technology company’s stock after selling 8,677 shares during the quarter. Bank of Montreal Can’s holdings in Logitech International were worth $8,468,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in Logitech International by 7.4% in the second quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after purchasing an additional 457,630 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 acquiring an additional 120,000 shares during the period. Assenagon Asset Management S.A. lifted its position in Logitech International by 166.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after purchasing an additional 798,759 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of Logitech International by 6.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 601,826 shares of the technology company’s stock worth $58,214,000 after acquiring an additional 37,852 shares in the last quarter. Finally, Liontrust Investment Partners LLP boosted its holdings in shares of Logitech International by 5.7% in the 2nd quarter. Liontrust Investment Partners LLP now owns 490,760 shares of the technology company’s stock valued at $47,470,000 after purchasing an additional 26,583 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Logitech International Price Performance

NASDAQ LOGI opened at $82.23 on Tuesday. Logitech International S.A. has a 1 year low of $74.72 and a 1 year high of $102.59. The business’s 50-day moving average is $83.20 and its 200 day moving average is $88.92. The stock has a market capitalization of $13.00 billion, a PE ratio of 18.20, a PEG ratio of 1.84 and a beta of 0.81.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were paid a $1.3687 dividend. This represents a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 24th. This is a boost from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio (DPR) is presently 11.63%.

Insider Activity

In related news, Director Guy Gecht acquired 2,500 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the transaction, the director now directly owns 18,503 shares in the company, valued at approximately $1,500,963.36. This trade represents a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LOGI shares. Barclays lowered their price target on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital reduced their target price on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research note on Monday, October 28th. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Finally, Wedbush restated a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $93.00.

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.